Child Tax Credit Calculator
Calculate your Child Tax Credit amount based on income, filing status, and number of qualifying children
Calculate Child Tax Credit
Your AGI from your tax return (minimum $2,500 required)
Phase-out threshold: $75,000
Eligible for up to $3,600 per child
Eligible for up to $3,000 per child
Child Tax Credit Results
Children 6-17 Years
Calculation Summary: AGI: $50,000 | Filing Status: Single
Credit Breakdown: Base Credit: $2,000 | Expanded Credit: $1,000 | Total: $3,000
2023 Child Tax Credit
Credit Amounts
Up to $3,600 per child under 6
Up to $3,000 per child 6-17
Phase-out Rate
$50 reduction per $1,000
over income threshold
Requirements
Child must have SSN
Live with you more than half year
Eligibility Requirements
Child must be under 18 at end of tax year
Child must have valid Social Security Number
Child must live with you more than half the year
You must earn at least $2,500 per year
Child must be claimed as your dependent
Understanding the Child Tax Credit
How the Credit Works
The Child Tax Credit provides up to $3,600 per qualifying child under 6 and up to $3,000 per qualifying child ages 6-17. The credit begins to phase out at certain income levels depending on your filing status.
Phase-out Thresholds:
- Single: $75,000
- Married Filing Jointly: $150,000
- Head of Household: $112,500
- Married Filing Separately: $75,000
Credit vs. Deduction
The Child Tax Credit is a tax credit, not a deduction. This means it directly reduces your tax liability dollar-for-dollar, making it more valuable than a deduction.
Key Benefits:
- Reduces your tax bill directly
- Refundable up to $1,400 per child
- No limit on number of qualifying children
- Can result in a tax refund even if you owe no taxes
Qualifying Child Requirements
Your child must meet several requirements to qualify for the Child Tax Credit:
- Be under age 18 at the end of the tax year
- Have a valid Social Security Number
- Be claimed as your dependent
- Live with you for more than half the year
- Be your child, stepchild, foster child, or other qualifying relative
Important Notes
- This calculator uses 2023 tax year amounts
- Results are estimates for planning purposes only
- Consult a tax professional for complex situations
- Credit amounts may change in future tax years
- Additional requirements may apply in specific circumstances