How do you qualify for the Child Tax Credit?

There are two main qualifications for the Child Tax Credit; your child and your income.

Your child must be:

• Under age 17 at the end of the tax year.
• Your child, grandchild, stepchild, foster child, sibling, step sibling, half-sibling, or any descendent of them. You'll need to claim the child as a dependent on your tax return.

Your income: The credit begins to phase out if your Adjusted Gross Income (AGI) is above a certain amount based on your filing status:

• $400,000 when Married Filing Jointly
• $200,000 when Single or Head of Household.
• $200,000 when Married Filing Separately

The Child Tax Credit is nonrefundable. That means if your income is low enough that your tax is already zero, then the credit will also be zero. However, you may still qualify for the Additional Child Tax Credit, which is refundable.