What you receive per child on your 2024 tax return

The Child Tax Credit gives you $2,000 per child under age 17 as of December 31, 2024. This is a dollar-for-dollar reduction in the taxes you owe, not a deduction from your income. If the credit exceeds what you owe in federal income tax, you may receive the difference as a refund — up to $1,700 per child through the refundable portion called the Additional Child Tax Credit.

If you have a dependent who is 17 or older, or a dependent who is not your child, you may claim a Dependent Exemption instead. This reduces your taxable income by $4,700 per dependent for 2024. The tax savings depend on your tax bracket; a dependent exemption is worth roughly $705 to $1,645 per person depending on your income level.

You cannot claim both the Child Tax Credit and a Dependent Exemption for the same person. The Child Tax Credit is almost always worth more, so you use it for children under 17 and the exemption only for older dependents or non-child relatives.

Key Takeaways

  • The Child Tax Credit is $2,000 per child under 17 on December 31, 2024, and reduces your tax bill dollar-for-dollar.
  • Up to $1,700 of the Child Tax Credit per child is refundable, meaning you can receive it even if you owe no federal income tax.
  • You must have a Social Security number for each child and claim them as dependents on your return to receive the credit.
  • Dependents age 17 and older do not may have access to for the Child Tax Credit but may may have access to for a $4,700 Dependent Exemption instead.
  • Income limits apply: the credit begins to phase out at $400,000 for married couples filing jointly and $200,000 for single filers.

Income limits and phase-out rules

The Child Tax Credit starts to reduce if 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 limit, the credit decreases by $50 per child.

Example: If you are married filing jointly with MAGI of $410,000 and two children, your credit would be reduced by $100 (two $50 reductions for the $10,000 overage). Your total credit would be $3,900 instead of $4,000.

The Dependent Exemption does not have income limits, but its value decreases as your income rises because it reduces taxable income rather than taxes owed directly. Higher earners benefit less from an exemption than from a credit.

Who counts as a may have access to child

To claim the Child Tax Credit, the child must be your son, daughter, stepchild, foster child, sibling, or descendant of any of these (such as a grandchild or niece). The child must be under age 17 on December 31, 2024, and must have a valid Social Security number issued before the tax return is filed.

The child must also live with you for more than half the year (with limited exceptions for temporary absences like school or medical care). If the child is a U.S. citizen, national, or resident alien, they meet the citizenship requirement. If the child is a nonresident alien, they do not may have access to.

You must claim the child as a dependent on your return. If another person (such as an ex-spouse) has the right to claim the child, you cannot claim the credit unless you have a signed agreement or court order giving you that right.

Refundable versus non-refundable portions

The Child Tax Credit has two parts. The first $1,300 per child is non-refundable, meaning it can only reduce your tax bill to zero. If you owe $800 in federal income tax and claim one child, you use $800 of the credit and lose the remaining $500.

The remaining $700 per child is the refundable portion (called the Additional Child Tax Credit). This part can result in a refund even if you owe no tax. If you owe $0 and claim one child, you would receive a refund of up to $700 from the refundable portion. The actual refundable amount is limited to 15% of your earned income over $2,500, so very low-income workers may receive less than the full $700.

Example: If you earned $15,000 and owe $0 in tax, your refundable credit would be 15% of ($15,000 − $2,500) = $1,875. With one child, you would receive $700 (the full refundable portion). With three children, you would receive $1,875 (limited by the 15% calculation, not the full $2,100).

How to claim the credit on your return

You report the Child Tax Credit on Form 1040 (the main individual income tax return) and Schedule 8812 (if you are claiming the refundable Additional Child Tax Credit). You will need the child's name, date of birth, and Social Security number for each child you claim.

If you file electronically, tax software will calculate the credit automatically once you enter the child's information. If you file by paper, you must complete Schedule 8812 to claim the refundable portion and attach it to your return.

The IRS matches the Social Security numbers you report against its records. If a number is invalid, missing, or does not match the child's name, the credit will be denied and your refund delayed. Make sure the Social Security number is correct before filing.

Changes from previous years

The $2,000 per-child amount has been in place since 2018 and remains unchanged for 2024. The income phase-out thresholds ($400,000 for married couples, $200,000 for single filers) also remain the same as 2023.

In 2021 and 2022, the credit was temporarily expanded to $3,600 per child under 6 and $3,000 per child ages 6 to 16, and the refundable portion was increased. These expansions expired after 2022. The credit returned to $2,000 per child for 2023 and remains at that level for 2024.

If you received advance Child Tax Credit payments in 2021 or 2022 and your income or family situation changed, you may owe back some of those payments when you file. The IRS will calculate any repayment owed on your 2024 return.

Frequently Asked Questions

Can I claim the credit for a child born late in 2024?

Yes, if the child was born on or before December 31, 2024, and has a valid Social Security number by the time you file your return. The child does not need to have lived with you for the full year — only for more than half the year after birth counts toward the residency test.

What if my child does not have a Social Security number yet?

You cannot claim the credit without a valid Social Security number. You can file your return without the child listed and amend it later once the number is issued, or wait to file until the number arrives. The IRS will not process the credit claim without a matching number.

Can I claim the credit if I do not file a tax return?

You must file a federal income tax return to claim the Child Tax Credit, even if you have no tax liability. Filing is the only way to receive the refundable portion. If your income is below the filing threshold, you can still file to claim the credit and receive a refund.

What happens if two parents both claim the same child?

The IRS will reject the duplicate claim and deny the credit to both parents. Only one person can claim a child as a dependent. If you and another parent share custody, you must decide who will claim the child, or follow a custody agreement or court order that specifies this.

Does the credit apply to foster children or adopted children?

Yes, if the child meets the relationship and residency tests. Foster children and adopted children count as your child for purposes of the credit. For adopted children, the child must have lived with you for more than half the year (or for the entire year if the adoption was finalized during the year).