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 17 (age 16 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 limited if you modified adjusted gross income is above a certain amount. The amount varies depending on your filling status
$110K
Married Filling Joint
$55K
Married Filling Separate Return
$75K
For all other taxpayers
Tax deductions & credits
For taxpayers with children
Earned Income Tax Credit
| No. of children | Max Credit |
 | $3,373 |
 | $5,572 |
 | $6,269 |
Income Threshold AGI earned icome
| No. of children | Below |
| $44,846 |
| $50,198 |
| $53,505 |
Dependent Age Test
Note: Any age if dependent is disabled.
Child & dependent care tax credit
For 1 Child
Max Credit 20-35%
Up to $3,000 in child care expenses
For more then 1 qualifying child
Up to $6,000
in child care expenses Depending on household AGI (max credit is $2,100)
Limitations of Credit
Child and dependent care expenses are limited to $3,000 for one qualifying person, and $6,000 for two or more qualifying persons.
The total child and dependent care expenses claimed cannot exceed your total earned income for the year.
The credit is equal to 35% of the maximum qualifying child and dependent care expenses. This rate is reduced by 1% for each $2,000 your adjusted gross income exceeds $15,000, but is not reduced below 20%.
Lifetime Learning Credit
American Opportunity Tax Credit
The credit is 40$ refundable, up to $1,000, so it can benefit even those with no tax liability
Aditional Child Tax Credit
In order to receive the Additional Child Tax Credit, you first must qualify for the Child Tax Credit. If the amount of your Child Tax Credit is limited by your income tax liability, you may be able to claim the Additional Child Tax Credit if your earned income is less than the limits for the year. The limits are:
$110K
Married Filling Joint
$75K
Single, head of household, or qualifying widow(er)
$55K
Married filling separately
For each $1,000 by which the taxpayer’s adjusted gross income (AGI) exceeds the threshold amount, the child tax credit is reduced by $50.The Additional Child Tax Credit is equal to the lesser of the not allowed portion of Child Tax Credit, or 15% of your earned income that is more than $3,000. Tax-exempt combat pay counts as earned income for calculating the Additional Child Tax Credit.
If your earned income is not more than
$3000
and you have three or more qualifying children, you may be able to claim the Additional Child Tax Credit up to the amount of Social Security taxes that you paid for the year. If you are eligible to receive the Earned Income Tax Credit, the maximum amount of Additional Child Tax Credit under this method is the total amount of Social Security taxes less the amount of the Earned Income Credit for which you are eligible.
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