Correct, for dependents over 17, you lose out on the $4050 per dependent. That is a shame. Even the smaller $500 family credit is not going to make up for this loss. When you have a few of these dependents, the personal exemptions of $4050/dependent are significant to reduce taxable income!
You mentioned that for 2018, this child tax credit will be worth up to $2,000 per child with up to $1,400 of the credit refundable. How does that work? Does the $2000 offset my taxable income? What if HoH earners make over $200k? How does the phase out work and at what point is it phased out to zero (so you don't even get the credit)? Is the $1400 added directly to my refund dollar for dollar? What does "up to" mean and how is it phased out?
