The Child Tax Credit amount depends on your child's age and your household income

The Child Tax Credit is worth up to $2,000 per child under age 17 as of the 2024 tax year. The exact amount you receive depends on how many children you have, their ages, and your total household income. If your income is above a certain threshold, the credit begins to phase out — meaning it gets smaller the more you earn.

The credit reduces the federal income tax you owe dollar-for-dollar. If the credit is larger than the tax you owe, you may receive the difference as a refund, though there are limits on how much of the credit is refundable in a single year.

Key Takeaways

  • The Child Tax Credit is worth up to $2,000 per child under age 17 for the 2024 tax year.
  • The credit phases out when your modified adjusted gross income exceeds $400,000 for married couples filing jointly or $200,000 for single filers.
  • Up to $1,700 of the credit per child may be refundable, meaning you can receive it even if you owe no federal income tax.
  • You must have a valid Social Security number for each child to claim the credit on your tax return.

Income limits and phase-out thresholds

The Child Tax Credit begins to reduce when your modified adjusted gross income (MAGI) exceeds $400,000 if you are married filing jointly, or $200,000 if you are single, head of household, or married filing separately. For every $1,000 (or fraction thereof) over the threshold, the credit decreases by $50.

Your MAGI is usually your adjusted gross income from your tax return. If you are unsure whether you are over the threshold, you can calculate it using your most recent tax return or speak with a tax preparer who can review your specific situation.

How much of the credit is refundable

The refundable portion of the Child Tax Credit is called the Additional Child Tax Credit. Up to $1,700 per child can be refunded to you, even if you owe no federal income tax. This means if your total tax liability is zero but you have a $2,000 credit, you could receive up to $1,700 as a refund.

The remaining $300 per child ($2,000 minus $1,700) is non-refundable. That portion can only reduce the tax you owe; it cannot result in a refund if your tax liability is already zero.

Requirements to claim the credit

To claim the Child Tax Credit, each child must have a valid Social Security number, be a U.S. citizen, national, or resident alien, and be under age 17 at the end of the tax year. The child must also be your dependent — meaning you provide more than half their financial support for the year.

You must report the child's name and Social Security number on your tax return. If the Social Security number is incorrect or missing, the IRS will not allow the credit and may delay your refund while they contact you to verify the information.

Changes to the credit amount year to year

The Child Tax Credit amount is not fixed permanently. Congress sets the credit amount through tax law, and it can change from year to year. For the 2024 tax year, the credit remains at $2,000 per child. In previous years, the amount was different — for example, it was temporarily expanded during 2021 and 2022.

When you file your taxes, use the credit amount that applies to the tax year you are filing for, not the current year. Tax software and IRS forms will show you the correct amount for each year.

How the credit interacts with other tax situations

If you have other tax credits — such as the Earned Income Tax Credit or the American Opportunity Credit — they do not reduce the Child Tax Credit amount. You can claim multiple credits on the same return. However, the order in which credits are applied can affect your final tax liability and refund, so tax software or a preparer can help you understand the total impact.

If you received advance payments of the Child Tax Credit during the year (through monthly payments), those payments reduce the amount of credit you can claim on your tax return. You will need to reconcile the advance payments with your actual credit when you file.

Frequently Asked Questions

Can I claim the Child Tax Credit if my child does not have a Social Security number yet?

No. Each child must have a valid Social Security number to claim the credit. If your child was born late in the year and does not yet have a number, you can apply for one through the Social Security Administration. Once you receive the number, you may be able to file an amended return to claim the credit for that year.

What if my income is above the phase-out threshold?

Your credit will be reduced by $50 for every $1,000 (or part of $1,000) that your income exceeds the threshold. For example, if you are married filing jointly and your income is $410,000, you are $10,000 over the $400,000 threshold, so your total credit would be reduced by $500 ($50 × 10). You can still claim the remaining credit on your return.

Do I have to report the advance Child Tax Credit payments I received?

Yes. When you file your tax return, you must report any advance payments you received. The IRS will send you a letter showing the total amount paid to you. This amount reduces the credit you can claim, and if you received more than you are may have access to to, you may owe the difference back when you file.

Is the Child Tax Credit the same as the Earned Income Tax Credit?

No. They are two separate credits. The Child Tax Credit is based on having children under age 17. The Earned Income Tax Credit is based on your income and work status. You may be able to claim both credits on the same return if you meet the requirements for each one.