Did I read it right? For "Child Tax Credit", TurboTax tells me that:
For 2017: The child tax credit is reduced by $50 for every $1,000 that your adjusted gross income (AGI) exceeds these amounts:
- Married filing jointly - $110,000
- Single, head of household or qualifying widow(er) - $75,000
- Married filing separately - $55,000
But for 2018: These credits are reduced by $50 for every $1,000 that your adjusted gross income (AGI) goes over these amounts:
- Single, Married Filing Separately, Head of Household, or Qualifying Widow(er) - $200,000
- Married filing jointly - $400,000
So for married jointly filling, the AGI limit is raised by almost 4 time??? (from $110K to $400K?) That sounds a lot so want to confirm.
Thanks!
