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posted Apr 15, 2024 9:19:14 AM

My son is only 16 and was 16 the entire 2023 tax year. I have a 19 year old college st. and a 14 year old and a 6 year old. Shouldn't I be getting $2000 each under 17?

my taxes only show a $5000 credit .  $2000 each for the 6 and 14 year old and then $500 for the 16 and 19 year old

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1 Replies
Expert Alumni
Apr 15, 2024 9:26:04 AM

Check their birthdays in the dependents section.   His age as of Dec 31, 2023 is what determines the credit amount.   Make sure all of the dependent questions are answered and SSNs are entered without a not valid for work checkmark.  

 

The Child Tax Credit is a tax credit you can claim for each qualifying dependent child on your return. You can get up to $2,000 for each child under age 17 if your modified adjusted gross income (AGI) is less than:

  • $400,000 if you're Married Filing Jointly or a Qualifying Surviving Spouse, or
  • $200,000 for all other filing statuses

If your AGI is higher than that, the amount of Child Tax Credit you're eligible for is reduced by $50 for each $1,000 your modified AGI is above the income threshold. For example, if you're Married Filing Jointly making $401,000, you’re eligible for a total credit of $1,950. 

 

To qualify, your child must meet all of these requirements:

 

  • Be under age 17 at the end of the tax year
  • Is your child, stepchild, foster child, adopted child, sibling, step sibling, half sibling, or a descendant of any of them (for example, a grandchild, niece, or nephew)
  • Has their own Social Security number
  • Lived with you for more than half the year
  • Didn't support themselves (didn't pay more than half their own expenses)
  • Is a U.S. citizen, U.S. national, or U.S. resident alien
    • Residents of Canada or Mexico don't qualify