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I'm wondering why my child tax credit dropped from $2,000 last year to $500 this year. My income went from $49k to about $52k. My child turned 17. Nothing else changed.

 
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1 Reply
Hal_Al
Level 15

I'm wondering why my child tax credit dropped from $2,000 last year to $500 this year. My income went from $49k to about $52k. My child turned 17. Nothing else changed.

Your child turn 17 is the reason.

 

You can still claim your child as a dependent. What you can't claim is the Child tax credit. This comes as a big surprise to many parents the year their child turns 17. A child over age 16 no longer qualifies for the Child Tax credit (CTC). Although a child can still be a student dependent through age 23, and a qualifying child for EIC,  the Child Tax Credit expires the year they turn 17 and you no longer get the $2000 CTC.  Instead, you get the $500 Other Dependent Credit. 

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