Child Tax Credit

Child Tax Credit 2018: What’s New, and Requirements to Qualify

• The Child Tax Credit offers up to $2,000 per qualifying dependent child 16 or younger at the end of the calendar year.
• New in 2018 is a $500 nonrefundable credit for qualifying dependents other than children.
• This is a tax credit, which means it reduces your tax bill on a dollar-for-dollar basis. Up to $1,400 of the Child Tax Credit is refundable; that is, it can reduce your tax bill to zero and you might be able to get a refund on anything left over.

How to qualify for the Child Tax Credit

You can take full advantage of the credit only if your modified adjusted gross income is under:
• $400,000 for married filling jointly
• $200,000 for everybody else.

Some of the other child-related eligibility requirements for the Child Tax Credit include:

• You must have provided at least half of the child’s support during the last year, and the child must have lived with you for at least half the year (there are some exceptions to this rule; the IRS has the details here).
• The child cannot file a joint return (or file it only to claim a refund).
• The child has to be 16 or younger by the end of the calendar year.

 

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About Publication 972 | Internal Revenue Service

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