The Child Tax Credit (CTC) is a tax credit that helps families with the cost of raising children. The CTC is available to taxpayers who meet certain eligibility requirements, including income limits.
For 2022, the income limits for the CTC are as follows:
- Single filers: $200,000
- Married couples filing jointly: $400,000
- Heads of household: $200,000
Phase-Out of the CTC
The CTC is phased out for taxpayers with incomes above the following limits:
- Single filers: $200,000 to $240,000
- Married couples filing jointly: $400,000 to $440,000
- Heads of household: $200,000 to $240,000
The CTC is reduced by $50 for every $1,000 of income above the phase-out threshold.
Example
A single filer with an income of $210,000 would be eligible for a reduced CTC of $1,500. This is because the CTC is phased out by $50 for every $1,000 of income above the $200,000 threshold.
Additional Child Tax Credit
In addition to the CTC, taxpayers may also be eligible for the Additional Child Tax Credit (ACTC). The ACTC is available to taxpayers with incomes below certain limits.
For 2022, the income limits for the ACTC are as follows:
- Single filers: $150,000
- Married couples filing jointly: $300,000
- Heads of household: $150,000
The ACTC is phased out for taxpayers with incomes above the following limits:
- Single filers: $150,000 to $175,000
- Married couples filing jointly: $300,000 to $350,000
- Heads of household: $150,000 to $175,000
The ACTC is reduced by $50 for every $1,000 of income above the phase-out threshold.
Eligibility Requirements
To claim the CTC or ACTC, taxpayers must meet the following eligibility requirements:
- The child must be under the age of 17 at the end of the tax year.
- The child must be a U.S. citizen, U.S. national, or U.S. resident alien.
- The child must live with the taxpayer for more than half the year.
- The child must not provide more than half of their own support during the year.
- The child must be claimed as a dependent on the taxpayer’s tax return.
How to Claim the CTC or ACTC
Taxpayers can claim the CTC or ACTC by completing the following steps:
- Gather the necessary documents, such as the child’s Social Security number and birth certificate.
- Complete Form 1040, U.S. Individual Income Tax Return.
- Attach Schedule 8812, Credits for Qualifying Children and Other Dependents, to Form 1040.
- Enter the amount of the CTC or ACTC on line 28 of Form 1040.
Additional Resources
2023 Child Tax Credit Simplified
FAQ
Who is eligible for the Child Tax Credit in 2022?
What is the income floor for Child Tax Credit 2022?
What is the maximum refund for the Child Tax Credit in 2022?
What is the minimum income for the additional Child Tax Credit 2022?
What is the child tax credit 2022?
For tax year 2022, the child tax credit is $2,000 per child under 17 who’s claimed on your tax return as a dependent. Last year, the credit was bumped up to $3,000 per child ($3,600 per child under age 6), and it allowed children who were 17 to qualify. The credit is no longer fully refundable.
Who qualifies for the 2023 child tax credit?
You qualify for the full amount of the 2023 Child Tax Credit for each qualifying child if you meet all eligibility factors and your annual income is not more than $200,000 ($400,000 if filing a joint return). Parents and guardians with higher incomes may be eligible to claim a partial credit.
What are the Child Tax Credit changes for 2021?
The Child Tax Credit changes for 2021 have lower income limits than the original Child Tax Credit. Families that do not qualify for the credit using these lower income limits are still eligible for the $2,000 per child credit using the original Child Tax Credit income and phase out amounts.
What is the maximum refundable child tax credit for 2023?
The maximum refundable amount per child — currently capped at $1,600 — would increase to $1,800 for 2023 taxes filed in 2024. In tax years 2024 and 2025, the refundable child tax credit amount would grow to $1,900 and $2,000. The math behind the refundability would change beginning with tax returns filed this year until the tax year 2025.