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Is there an income phase-out that causes my 16 year old not to qualify for the child tax credit?
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June 5, 2019
12:19 PM
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Deductions & credits
Additionally, the child must be under the age of 17 on the last day of the year, 12/31/2017.
June 5, 2019
12:19 PM
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Deductions & credits
Yes.
In 2017, the phase out threshold is $55,000 for married couples filing separately; $75,000 for single, head of household, and qualifying widow or widower filers; and $110,000 for married couples filing jointly. For each $1,000 of income above the threshold, your available child tax credit is reduced by $50.
June 5, 2019
12:19 PM