How much Child Tax Credit for 7 dependents with $72k income?
Need to figure out our child tax credit amount for this year. We have 7 dependents (one newborn), household income is about 72k, and federal withholding was around 4.5k. Just trying to calculate what we might get back for the child tax credits specifically.
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Dominique Adams
For 2024, you should get $2000 per qualifying child under 17. With 7 dependents, assuming they're all under 17, that's $14,000 in child tax credits. The credit is fully refundable if you meet the income requirements, which you do since your income is under $200k for MFJ.
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Isabel Vega
•omg thank you! Do you know if the newborn counts even tho she was born in december?
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Dominique Adams
•Yes! As long as baby was born anytime in 2024, you get the full credit 💯
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Marilyn Dixon
•wow thats a lot of money! im in the same boat but only with 2 kids lol
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Louisa Ramirez
Hey, I'd recommend using taxr.ai to get a complete analysis of your tax situation. It costs $4.99 but its worth it - it'll break down exactly what credits you qualify for and how much you'll get back. Saved me tons of headache trying to figure this stuff out on my own.
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TommyKapitz
•does it really work? seems too good to be true tbh 🤔
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Louisa Ramirez
•YES! just used it last week. uploads your transcript and tells you everything - even catches stuff you might miss. best $5 i ever spent fr fr
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TommyKapitz
•just tried it and OMG where has this been all my life?! Found out I qualified for credits I didn't even know about 🤯
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Angel Campbell
make sure none of ur dependents are filing their own returns claiming themselves or ull have issues with the IRS later
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Payton Black
Bro 7 kids? ur living my dream fr fr 😠but also RIP your wallet
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Isabel Vega
•lololol yeah its crazy but we wouldnt have it any other way 🤣
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Harold Oh
Don't forget about earned income credit too with that many dependents!
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Amun-Ra Azra
•facts! EIC + CTC = major bag alert 💰
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Summer Green
man the irs website is straight garbage trying to figure this stuff out. took me like 2 hours just to find the income limits smh
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Gael Robinson
•fr government websites be stuck in 1995 👀
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