Who Qualifies for the Child Tax Credit

You can claim the Child Tax Credit for each qualifying child who has a Social Security number that is valid for employment in the United States.

To be a qualifying child for the 2023 tax year, your dependent must:

  • Be under age 17 at the end of the year.
  • Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece, or nephew).
  • Provide no more than half of their own financial support during the year.
  • Have lived with you for more than half the year.
  • Be properly claimed as your dependent on your tax return.
  • Not file a joint return with their spouse for the tax year or file it only to claim a refund of withheld income tax or estimated tax paid.
  • Have been a U.S. citizen, U.S. national or U.S. resident alien.

You qualify if your Income is below the thresholds of $400,000 for married couples and $200,000 for all other filers (single taxpayers and heads of households). Your credit amount is reduced by $50 for each $1,000 of income exceeding the threshold.

How to Claim the Child Tax Credit

If you’re a parent who meets the qualifications, you can claim the child tax credit — and the additional child tax credit (if applicable) — by entering your eligible children on your Form 1040. You’ll also need to complete Schedule 8812 to figure your child tax credit amount and include it in your tax return.

Other Tax Credits

If you qualify for the Child Tax Credit, you may also qualify for these tax credits. We will be sharing more information on these throughout the year in our newsletters.

  • Child and Dependent Care Credit
  • Earned Income Tax Credit
  • Adoption Credit and Adoption Assistance Programs
  • Education credits

Be sure to consult with your tax professional to analyze your specific tax situation. At Taxperts, we can assess your small business structure and suggest ways to increase your savings. Check out our website, Facebook page, or LinkedIn page to learn more.

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