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
•So 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
•omg 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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Simon White
•That's such a good point! I didn't even think about the childcare credit. I spend like $200 a week on daycare so that could add up to real money. Thanks for the tip! 🙏
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Jamal Anderson
Just wanted to chime in as someone who's been through this! With your $12k income and two kids, you're definitely in good shape for tax credits. Like others mentioned, you'll get the $1,800 refundable portion per kid through the Additional Child Tax Credit, plus you should absolutely look into the Earned Income Tax Credit (EITC) - that could be another $3,000+ depending on your exact situation. Also don't sleep on filing early! The IRS usually starts accepting returns in late January, and getting your refund sooner rather than later can make a huge difference when you're working part-time. Good luck! 💪
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Katherine Hunter
•This is super helpful info! I'm also part-time with kids and had no idea about filing early. Quick question - do you know if there's a difference in processing time if you e-file vs mail it in? Want to make sure I get that refund ASAP since money's tight right now 😅
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