The Child Tax Credit: How Much You Get and Who Qualifies

The basics

• $2,000 per qualifying child under age 17 (as of Dec 31)
• Up to $1,700 refundable in 2024 (Additional Child Tax Credit)
• Phase-out starts at $200K single / $400K MFJ — reduced by $50 per $1,000 over

What 'qualifying child' means

• Under 17 at year-end
• Your child, stepchild, sibling, foster child, or descendant of any of these
• Lived with you over half the year
• Did not provide more than half their own support
• US citizen, national, or resident alien with valid SSN
• Claimed as a dependent on your return

The $500 Credit for Other Dependents

For dependents who don't qualify for CTC — a 17-year-old, a college student, an aging parent. Nonrefundable, $500 per person, same phase-out thresholds.

How the refundable portion works

If your CTC reduces your tax below zero, you can get up to $1,700 per child back as the Additional CTC — but only up to 15% of earned income over $2,500. A parent with $5,000 of earned income and one child gets only ~$375 refundable, not the full $1,700.

Common mistakes

• Forgetting the child's SSN must be issued before the return due date
• Both parents claiming the same child (only one can)
• Missing the credit for a 17-year-old (use Credit for Other Dependents instead)
• Not filing because income is low — you'd be leaving the refundable CTC on the table

What might change

The current $2,000 amount and refundable portion are scheduled to revert to $1,000 (with stricter rules) after 2025 unless Congress acts. Stay tuned.