What's the income minimum to qualify for Child Tax Credit (CTC) in 2024?
Does anyone know what the minimum income requirements are to get the Child Tax Credit? I only worked part time this year and made about 12k. I have two kids under 17 and wondering if I'll qualify when I file.
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Harper Hill
Tax pro here! For 2024, there's no minimum income requirement to claim the Child Tax Credit. However, the credit is partially refundable through the Additional Child Tax Credit. You can get up to $1,800 refunded per qualifying child if you earned at least $2,500 in income. The full credit is $2,000 per child under 17.
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Lucas Adams
AuthorSo with 12k income, would I get the full amount back for both kids?
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Harper Hill
Based on your income, you should be eligible for $1,800 refundable per child, so $3,600 total refundable amount 👍
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Caden Nguyen
what about if you made like 40k? asking for a friend
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Harper Hill
At 40k, assuming single with 2 kids, you'd likely get the full $2,000 per child depending on your tax liability
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Avery Flores
Hey everyone! I see lots of questions about tax credits. I've been using taxr.ai and it's been a game changer for understanding exactly what credits I qualify for. It costs $4.99 but totally worth it - just upload your transcript and it breaks everything down. Here's the link: https://taxr.ai
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Zoe Gonzalez
does it actually work? seems kinda expensive for just reading a transcript
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Avery Flores
It does way more than just read it! It analyzes everything and gives you personalized advice. Saved me hours of research and helped me catch credits I would've missed
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Zoe Gonzalez
just tried it and holy cow youre right! it found an education credit i totally missed last year 🙌
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Ashley Adams
im in the same boat as u op, single mom working part time. its rough out here 😩
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Alexis Robinson
Make sure you check if your state has additional child tax credits too! Some states have their own version on top of the federal
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Lucas Adams
Authoromg i had no idea! gonna look into this rn
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Aaron Lee
dont forget about the earned income credit too! that stacks with the child tax credit and has similar income requirements
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Chloe Mitchell
Facts 💯 EITC is clutch for low income fams
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Michael Adams
anyone else remember when it was 3600 per kid during covid? those were the days 😭
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Natalie Wang
fr fr that extra money helped so much
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Noah Torres
we were eating good back then ngl 🤣
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Isabella Costa
Just want to add that you should also look into the Child and Dependent Care Credit if you're paying for childcare while working! It's separate from the Child Tax Credit and can give you additional savings. With your income level, you might qualify for a higher percentage of your childcare costs back. Worth checking out when you file!
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