TurboTax is showing I only qualifying for $2000 child tax credit for a 16 year old. I thought in 2021 the amount increased to $3000?

[Pricilla1]

Can reaching a certain income amount decrease the child tax credit?

[VolvoGirl]

Yes income can limit it.   And did you already get some of the advanced Child Tax Credit?

[Pricilla1]

Thanks for the response.  Do you know or can you point me to what the income breaks are that reduce the credit?  I understand that it will be reduced by the amount already received.

[DanaB27]

Yes, if your modified adjusted gross income (AGI) is more than,

• $150,000 if you're Married Filing Jointly or a Qualifying Widow
• $112,500 if you're filing as Head of Household, or
• $75,000 if you're Married Filing Separately or Single

then the Child Tax Credit will be reduced by $50 for each $1,000 your modified AGI is above the income threshold.

Please see What is the Child Tax Credit? for additional details.