Under 19
Under 24 if student for at least 5 months
Tax Tools
Credits & Deductions Checklist
This checklist will help you determine if you qualify for the child tax credit:
Age
A child must have been under age 18 (age 17 or younger) at the end of the year
Dependent
You must claim the child as a dependent on your federal tax return.
Relationship
A child must either be your son, daughter, stepchild, foster child, brother, stepbrother, or a descendent of any of these individuals, which includes your grandchild, niece, or nephew.
Citizenship
The child must ba a U.S. citizen, U.S. national, or U.S. resident alien
Support
The child must not have provided more than half of his/her. own support.
Residence
The child must have lived with you for more than half the tax year.
Limitations
The credit is now refundable up to $3,000($3600 if under 6 yrs. old) limited if you modified adjusted gross income is above a certain amount. The amount varies depending on your filling status.
$400K
Married Filling Joint
$200K
For all other taxpayers
Tax deductions & credits
For taxpayers with children
Earned Income Tax Credit
| No. of children | Max Credit |
| – | $1,502 |
 |
$3,618 |
 |
$5,980 |
 |
$6,728 |
Income Threshold AGI earned icome
| No. of children | Below |
|
$49,622* |
|
$55,529* |
|
$59,187* |
| *Max income for Married Filing Jointly | |
Dependent Age Test
Note: Any age if dependent is disabled.
Child & dependent care tax credit
For 1 Child
Max Credit 50% ($4,000)
Up to $8,000 in child care expenses
For more then 1 qualifying child
Up to 50% ($8,000)
Up to $16,000 in child care expenses
Limitations of Credit
The credit will be reduced when AGI reaches $125,000. An eligible family with an AGI of $125,000 or less will get a credit worth 50% of their qualifying expenses. The credit further reduces from 50% to 20% for families with an AGI between $125,001 and $183,001. Credit will stay at 20% for families with an AGI from $183,001 to $400,000, but will continue to reduce again from 20% to 0% for families with an AGI above $400,000. If your AGI is above $438,000, the credit is completely phased out.
Lifetime Learning Credit
American Opportunity Tax Credit
The credit is 40% refundable, up to $1,000, so it can benefit even those with no tax liability
Aditional Child Tax Credit
This year the credit is fully refundable up to $3000 ($3600 if under age 6) in Additional Child Tax Credit, but you first must qualify for the Child Tax Credit. If the amount of your Child Tax Credit is not limited by your income tax liability, you may be able to claim the Additional Child Tax Credit.
$400K
Married Filling Joint
$200K
Single, head of household, or qualifying widow(er)
For each $1,000 by which the taxpayer’s adjusted gross income (AGI) exceeds $75,000 ($150,000 for joint fliers), the child tax credit is reduced by $50.The Additional Child Tax Credit is fully refundable less any tax liability. Tax-exempt combat pay counts as earned income for calculating the Additional Child Tax Credit.
CHILDREN UNDER 6 YRS OLD
UP TO $3600
CHILDREN UNDER 18
UP TO $3000
IRS Letter 6419
In January 2022, the IRS will send Letter 6419 to inform taxpayers of the total amount of advance payments of Child Tax Credits distributed to them in 2021—information that they will need for their 2021 tax returns.
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