📋The child tax credit is a maximum of $2,000 per qualifying child and is not refundable.
💲The credit for other dependents can be up to $500 per dependent and is non-refundable.
💰The additional child tax credit is a refundable part of the child tax credit.
🧾Certain criteria must be met, such as the dependent having a valid Social Security number and meeting residency and support requirements.
💡The income-based phase out may affect the amount of your tax credit.
What is the maximum child tax credit per qualifying child?
—The maximum child tax credit per qualifying child is $2,000.
How much can I claim for the credit for other dependents?
—You can claim up to $500 for the credit for other dependents.
Is the additional child tax credit refundable?
—Yes, the additional child tax credit is a refundable part of the child tax credit.
What criteria must be met to claim these tax credits?
—Criteria include the dependent having a valid Social Security number and meeting residency and support requirements.
How does the income-based phase out affect the tax credit?
—The income-based phase out may reduce or eliminate the amount of your tax credit.
00:00The Schedule is used to calculate credits for qualifying children and dependents.
00:40The child tax credit is a maximum of $2,000 per qualifying child.
01:02The credit for other dependents can be up to $500 per dependent.
01:16The additional child tax credit is refundable.
02:50Certain criteria must be met, such as the dependent having a valid Social Security number and meeting residency and support requirements.
10:28The income-based phase out may affect the amount of your tax credit.
