If you have an eligible, qualifying child, the Child Tax Credit may save you up to $1,000 for each child. Here are five facts to help you determine if you can claim this credit:
1. For the Child Tax Credit, a qualifying child
- must have been under age 17 on December 31, 2016;
- must be your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half-brother or half-sister. The child may be a descendant of any of these individuals. A qualifying child could also include grandchildren, nieces or nephews. You always treat an adopted child as your own child. An adopted child includes a child lawfully placed with you for legal adoption;
- must not have provided more than half of their own support for the year;
- must be a dependent that you claim on your federal tax return;
- cannot file a joint return for the year, unless they file only to claim a refund;
- must be a U.S. citizen, a U.S. national or a U.S. resident alien; and
- must have lived with you for more than half of 2016.
2. This credit is subject to income limitations. The limits may reduce or eliminate your credit depending on your filing status, and income type and amount. To claim the child tax credit, your modified adjusted gross income can’t be more than:
- $110,000 for married filing jointly;
- $75,000 for single, head of household or qualifying widow(er); or
- $55,000 for married filing separately.
3. If you qualify and get less than the full Child Tax Credit, you could receive a refund, even if you owe no tax, with the Additional Child Tax Credit.
4. If you qualify to claim the credit, check to see if you must complete and attach Schedule 8812, Child Tax Credit, with your tax return. You can visit IRS.gov to view, download or print IRS tax forms anytime.
5. The easiest way to claim the Child Tax Credit is with IRS E-file. This system is safe, accurate and easy to use. You can also use IRS Free File to prepare and e-file your taxes for free. Go to IRS.gov/filing to learn more.
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