Filing HoH, standard deduction, claiming 23 yr old FT student and 16 yr old. 23 yr old qualifying for $500 other dependent credit, why isn't 16 yr old qualifying for child tax credit?
There is an income phase out that the credit begins to phase-out at $75,000 for Head of Household filers. The credit is reduced by $50 for each additional $1,000 of income above $75,000.