Deductions & credits

Check the birth dates for both children to be sure they are correct.  Walk through the personal section for your children and review the rules below. Also, it's important to note that if the other parent claims either of the children, only the parent who claims the child is eligible for the child tax credit (CTC) and/or the additional child tax credit (ACTC).

Who qualifies - IRS Child Tax Credit

You can claim the Child Tax Credit for each qualifying child who has a Social Security number that is valid for employment in the United States.

To be a qualifying child for the 2024 tax year, your dependent generally must:

• Be under 17 at the end of the tax year.
• Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece or nephew).
• Not provide more than half of his or her own support for the tax year.
• Have lived with you for more than half the tax year.
• Be claimed as a dependent on your return.
• Not file a joint return for the year (or filed the joint return only to claim a refund of taxes withheld or estimated taxes).
• Be a U.S. citizen, U.S. National or a U.S. resident alien.
• Must have a Social Security Number that is valid for employment and is issued before the due date of your tax return (including extensions).

You qualify for the full amount of the 2024 Child Tax Credit for each qualifying child if you meet all eligibility factors and your annual income is not more than $200,000 ($400,000 if filing a joint return).

Parents and guardians with higher incomes may be eligible to claim a partial credit.

• Limits on CTC/ACTC:
  • The maximum amount of CTC per qualifying child is $2,000.
  • The refundable part of the credit, ACTC, is worth up to $1,700 for each qualifying child.
  • CTC/ACTC begins to decrease in value if your adjusted gross incomes exceed $200,000 ($400,000 for married filing jointly).
  • ACTC is not allowed if you or your spouse (if filing a joint return) file a Form 2555 or Form 2555EZ (excluding foreign earned income).