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Dependents and child tax credit

I am married and filling jointly, we did not get any money for dependent support this year for my 17, 16 and 13 year olds, How does this concern us now and in the future?

 

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4 Replies

Dependents and child tax credit

Unless the child is disabled they must be under the age of 13 to be eligible for the Child and Dependent Care Credit.  Additionally you both must work to be eligible for the credit.

SwapnaM
Employee Tax Expert

Dependents and child tax credit

For claiming Child Tax credit your child should be under the age of 17 at the end of the tax year. The potential Child Tax Credit amount will be reduced if your adjusted gross income exceeds $400,000 for people who are married and filing jointly.

https://turbotax.intuit.com/tax-tips/family/child-tax-credit/L9ZIjdlZz 

 

Child & dependent care credit: A qualifying person generally is a dependent under the age of 13, a spouse or dependent of any age who is incapable of self-care and who lives with you for more than half of the year.

https://turbotax.intuit.com/tax-tips/family/the-ins-and-outs-of-the-child-and-dependent-care-tax-cre... 

The age of the dependent & your income may have limited your credits. 

 

@desmosol thanks for the question!!

 

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Dependents and child tax credit

Thank you,

Our adjusted gross income for last year, 2023, was $47,029, and we did not receive anything for our three children under 17. What can we do to access these benefits?

SwapnaM
Employee Tax Expert

Dependents and child tax credit

You probably did not have enough income from working to get the refundable  additional child tax credit --which is based on how much you earned from working. The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1600.   In order to get that credit, you have to have income from working.  The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1600 per child. If the amount you earned was too low, you will not get the full $1600.

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