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You get the CTC for each qualified child. If your child turned 17 during 2024 you lose the CTC and instead you get the $500 credit for other dependents.
Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. Careful— do not say that your child’s SSN is not valid for employment. If your child was born in 2024 make sure you said he lived with you the whole year. There is an oddly worded question that asks if the child paid over half their own support. Say NO to that question.
Have you entered income from working in 2024? If not, you will not receive an income tax refund based on having dependent children.
The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1700. 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 $1700 per child. If the amount you earned was too low, you will not get the full $1700.
If your child is older than 16 at the end of 2024, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
Look at your 2024 Form 1040 to see the child-related credits you received
PREVIEW 1040
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28
I have double checked all the info and I've got everything entered correctly. Neither of the dependents are over 16. I have entered my income and done the math (amount I earned above 2500 multiplied by 15%) and the answer is exactly what I see on my return as my Child Tax Credit amount. But wouldn't that amount only be for one child?
No. If your income is $5,000, your credit would not be more than $375 total. Yes, the credit is a per child limit, however, your income caps the credit first, so you would need enough income for 2 children to get the full credit.
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