Qualification would be on your net income. The child tax credit (CTC) is limited to your tax liability. The CTC is a non-refundable credit and can only reduce your income tax to zero. It can not help you beyond eliminating your tax liability. However; if you have more than $2500 of earned income (Net Self Employment Income), some or all of it is usually given back to you thru the "Additional Child tax credit".
2023 & 2024 Child Tax Credit
Have an amazing day. Evelyn M (CPA 20+ years)
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