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Deductions & credits
Your child who turn 17 in December 2020 is no longer eligible for the child tax credit of $2,000, but only to the Other dependent credit of $500. This is why the Child tax credit and Other dependent credit in 2020 is only $2,500 and not $4,000 like in tax year 2019.
Your first child has simply aged out of the child tax credit. It has nothing to do with your income level.
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March 22, 2021
9:12 AM