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Deductions & credits
The Child Tax Credit and the Additional Child Tax Credit are meant to help working parents with low to moderate incomes. For that reason, families must have a minimum of $2,500 of earned income to claim the ACTC. Earned income can come from salaries and wages, self-employment, and some disability payments. Parents whose income comes solely from "unearned" income — such as interest and dividends, pensions and annuities, social security, unemployment, alimony or child support — do not qualify.
Please read this TurboTax article for more information.
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February 19, 2024
9:51 AM