The 2024 Child Tax Credit amount and who receives it

The Child Tax Credit for 2024 is $2,000 per child under age 17 at the end of the tax year. This is the same amount as 2023. The credit reduces the federal income tax you owe, and if the credit is larger than your tax bill, you may receive the difference as a refund — though the refundable portion has a limit.

The credit applies to children who are your biological children, stepchildren, adopted children, or foster children, as long as they lived with you for more than half the year and you claim them as dependents on your tax return. The child must also have a valid Social Security number and be a U.S. citizen, national, or resident alien.

Income limits determine whether you receive the full $2,000 or a reduced amount. For 2024, the credit begins to phase out at $400,000 of modified adjusted gross income for married couples filing jointly, and $200,000 for single filers and heads of household. For each $1,000 (or fraction thereof) over the threshold, the credit reduces by $50.

Key Takeaways

  • The 2024 Child Tax Credit is $2,000 per child under age 17, with no change from 2023.
  • Your income determines whether you get the full amount or a reduced credit, with phase-outs starting at $400,000 for joint filers and $200,000 for single filers.
  • The refundable portion of the credit (the part you can receive as a refund if it exceeds your tax bill) is capped at $1,700 per child for 2024.
  • You must claim the child as a dependent on your tax return, and the child needs a valid Social Security number to count toward the credit.

How the refundable portion works

Part of the Child Tax Credit is refundable, meaning you can receive money back even if you owe no federal income tax. For 2024, up to $1,700 per child can be refunded to you. The remaining $300 per child is non-refundable, so it can only reduce your tax bill to zero — it cannot create a refund beyond that.

To receive the refundable portion, you must have earned income (wages, self-employment income, or certain other types of income). The refundable credit is limited to 15 percent of your earned income above $2,500. This means if your earned income is low, the refundable amount you receive may be less than $1,700 per child.

For example, if you have $20,000 in earned income and two children, your refundable credit would be limited to 15 percent of $17,500 ($20,000 minus $2,500), which equals $2,625. Since the cap is $1,700 per child, you would receive $3,400 total ($1,700 × 2), but only if your tax bill is zero or low.

Income phase-out and how it reduces your credit

If your income exceeds the threshold for your filing status, your credit decreases by $50 for every $1,000 (or part of $1,000) over the limit. The thresholds for 2024 are $400,000 for married couples filing jointly, $200,000 for single filers, and $200,000 for heads of household.

The income used to calculate the phase-out is your modified adjusted gross income (MAGI), which is usually your adjusted gross income from your tax return. For most people, this is straightforward. If you have foreign earned income or certain other items, your MAGI may differ from your AGI.

Here is how the reduction works in practice: if you are single with one child and your MAGI is $210,000, you are $10,000 over the $200,000 threshold. That rounds up to two $1,000 increments, so your credit reduces by $100 ($50 × 2), leaving you with $1,900 instead of $2,000.

Children who do not count toward the credit

The credit only applies to children under age 17 at the end of the tax year. A child who turns 17 on December 31, 2024, counts for the credit. A child who turns 17 on January 1, 2024, does not.

Your child must have a valid Social Security number issued before the tax return is filed. A number that is pending or an Individual Taxpayer Identification Number (ITIN) does not count. The child must also be a U.S. citizen, national, or resident alien — not a nonresident alien.

The child must live with you for more than half the year. Temporary absences for school, medical care, military service, or vacation count as time living with you. If you and another person both claim the child, only one of you can receive the credit, and the IRS will disallow one claim.

How to claim the credit on your tax return

You claim the Child Tax Credit on Form 1040 (the main individual income tax return form) or Form 1040-SR (for people age 65 or older). The credit appears on Schedule 3, which is where you report nonrefundable credits. The refundable portion appears separately on the form.

You will need the child's full name, date of birth, and Social Security number. Make sure the name and number match the Social Security Administration's records — mismatches cause the IRS to deny the credit and delay your refund.

If you file electronically, tax software will walk you through the questions and calculate the credit automatically. If you file on paper, you fill in the child's information on the form and the IRS calculates the credit. Either way, keep records of the child's birth certificate and Social Security card in case the IRS asks for proof later.

What changed from 2023 to 2024

The credit amount stayed at $2,000 per child — there was no increase. The refundable portion remained at $1,700 per child. The income thresholds for phase-out did not change either.

The main difference from previous years is that the temporary expansion of the credit (which made more of it refundable and lowered income thresholds) expired after 2021. Since 2022, the credit has been back to the permanent law amounts and rules, which continue through 2024.

Frequently Asked Questions

Do I get the full $2,000 if my child was born in December 2024?

Yes. The child must be under age 17 at the end of the tax year (December 31, 2024), and a newborn counts. The child must have a valid Social Security number, which you can request at the hospital or later through the Social Security Administration. If the number is not issued by the time you file, you can file without it and amend your return once you receive it.

What if I have joint custody and both parents claim the child?

Only one parent can claim the credit. If both of you file claiming the same child, the IRS will disallow one claim and may delay both refunds while they investigate. The parent who has custody for the majority of the year typically has the right to claim the child, but you can agree in writing to let the other parent claim the credit instead.

Can I claim the credit if my child has an ITIN instead of a Social Security number?

No. The child must have a valid Social Security number. An ITIN (Individual Taxpayer Identification Number) does not count. If your child is a U.S. citizen or resident alien but does not yet have a Social Security number, you can request one through the Social Security Administration or at birth.

Does the credit reduce my tax bill dollar-for-dollar?

Yes, the credit reduces your federal income tax bill dollar-for-dollar up to the amount you owe. If the credit is larger than your tax bill, the refundable portion (up to $1,700 per child) can be refunded to you. The non-refundable portion ($300 per child) cannot create a refund — it only reduces your bill to zero.

What if my income is too high — do I lose the entire credit?

No. The credit phases out gradually. For every $1,000 (or part of $1,000) over the income threshold, it reduces by $50. Even at very high incomes, you will retain some credit unless your income is far above the threshold. At $500,000 of income as a single filer, for example, you would still have a small credit remaining.