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Deductions & credits
You could qualify for both. The Child Tax Credit it is a nonrefundable federal tax credit which may be worth as much as $1,000 per child. That means it lowers your tax liability (income you are taxed on), you do not get the amount in your refund.
How does the Child Tax Credit work?
https://ttlc.intuit.com/replies/3301702
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The Earned Income Credit is a credit you get that is added to your refund amount. The credit is for up to 3 children, you can list more but you only get credit for 3.
Maximum Credit AmountsThe maximum amount of credit for Tax Year 2015 is:
- $6,242 with three or more qualifying children
- $5,548 with two qualifying children
- $3,359 with one qualifying child
- $503 with no qualifying children
2015 EITC Income Limits, Maximum Credit Amounts and Tax Law Updates
May 31, 2019
4:53 PM