The Child Tax Credit amount for 2024 is $2,000 per child under 17

The Child Tax Credit reduces your federal income tax dollar-for-dollar. For the 2024 tax year (the return you file in 2025), you can claim $2,000 for each child under age 17 at the end of that year. The credit applies to children who are U.S. citizens, nationals, or resident aliens, and you must have a valid Social Security number for each child to claim them.

The credit begins to phase out if your modified adjusted gross income exceeds certain thresholds: $400,000 for married couples filing jointly, and $200,000 for single filers and heads of household. For every $1,000 (or fraction thereof) over the threshold, the credit reduces by $50.

Part of the credit may be refundable, meaning you could receive money back even if you owe no tax. The refundable portion is called the Additional Child Tax Credit, and for 2024 it is limited to $1,700 per child. This amount changes year to year based on inflation adjustments.

Key Takeaways

  • The Child Tax Credit is $2,000 per may have access to child under 17 for the 2024 tax year, and this amount has remained the same since 2017.
  • Up to $1,700 of the credit per child may be refundable if you owe little or no tax, though the refundable portion is indexed for inflation each year.
  • The credit phases out for higher earners: $400,000 for married couples filing jointly and $200,000 for single filers.
  • You must have a valid Social Security number for each child and they must be under 17 at the end of the tax year to claim the credit.
  • The credit is claimed on your federal tax return; you do not receive it as a separate payment unless the refundable portion applies to you.

How the refundable portion works

The refundable part of the credit—the Additional Child Tax Credit—means you may get money back even if your tax bill is zero. For 2024, you can receive up to $1,700 per child as a refund. This is calculated based on your earned income: you can claim 15 percent of earned income over $2,500, up to the $1,700 limit per child.

If you have three children and your earned income is $20,000, for example, you would calculate 15 percent of $17,500 ($20,000 minus $2,500), which equals $2,625. But since the limit is $1,700 per child, your refundable credit would be capped at $5,100 total ($1,700 × 3 children). The exact calculation depends on your specific income and number of children.

What changed from 2023 to 2024

The credit amount itself stayed at $2,000 per child. However, the refundable portion increased slightly due to inflation adjustment. For 2023, the refundable limit was $1,600 per child; for 2024 it rose to $1,700 per child. This annual adjustment is tied to inflation and is announced by the IRS each year.

The income thresholds where the credit begins to phase out also adjust for inflation. For 2024, those thresholds increased compared to 2023, meaning more families can claim the full $2,000 before the reduction kicks in.

Income limits and phase-out rules

Your modified adjusted gross income (MAGI) determines whether the full credit applies or whether it is reduced. If you are married filing jointly and your MAGI is $400,000 or less, you claim the full $2,000 per child. If your MAGI is $401,000 to $402,999, the credit reduces by $50. For every additional $1,000 over the threshold (or any part of $1,000), it reduces by another $50.

For single filers and heads of household, the threshold is $200,000. The same $50 reduction per $1,000 (or fraction) applies once you exceed that amount. Married couples filing separately have a $200,000 threshold as well.

If the phase-out calculation results in a credit amount that is not a multiple of $50, the IRS rounds down to the nearest $50. This means small increases in income near the threshold may not when ready reduce your credit.

Who can claim the credit

To claim the Child Tax Credit, the child must be your son, daughter, stepchild, foster child, sibling, or descendant of any of these (such as a niece or nephew). The child must have lived with you for more than half the year, be under 17 at the end of the tax year, and be a U.S. citizen, national, or resident alien. You must also provide their valid Social Security number on your return.

You cannot claim the credit for a child if someone else claims them as a dependent on their return. If parents are divorced or separated, the parent with custody for the greater part of the year generally claims the credit, unless they sign a form releasing the claim to the other parent.

How to claim the credit on your tax return

You claim the Child Tax Credit on Form 1040 (the main federal income tax form) or Form 1040-SR if you are 65 or older. You list each may have access to child's name and Social Security number. The credit is entered on the line for nonrefundable credits, and any refundable portion is calculated separately.

If you use tax software or work with a tax preparer, they will ask you for each child's information and calculate the credit automatically. You do not file a separate form just for this credit; it is part of your main return. If you claim the credit incorrectly or without a valid Social Security number for the child, the IRS will disallow it and may assess penalties.

What happens if the credit is more than your tax bill

If the full $2,000 credit exceeds the tax you owe, the refundable portion (up to $1,700 per child for 2024) can be paid to you as a refund. For example, if you owe $1,200 in tax and have one may have access to child, the $2,000 credit covers your $1,200 bill and leaves $800. Of that $800, up to $1,700 of the refundable portion can be sent to you, so you would receive $800 as a refund.

The non-refundable portion of the credit (the amount above $1,700 per child) straightforward reduces your tax bill to zero and cannot be carried forward to future years. This is why the refundable portion matters: it is the only part that can result in a payment to you if you owe no tax.

Frequently Asked Questions

Does the child have to live with me the whole year to claim the credit?

No. The child must live with you for more than half the year. If a child lived with you for seven months and elsewhere for five months, that counts as more than half the year and the child qualifies. Temporary absences for school, vacation, or medical care do not break the residency requirement.

Can I claim the credit for a child who does not have a Social Security number?

No. Each child must have a valid Social Security number. If a child does not have one, you cannot claim the credit for that child. You can still claim it for other may have access to children on your return.

What if my income is above the phase-out threshold?

Your credit reduces by $50 for every $1,000 (or part of $1,000) that your income exceeds the threshold. If you are married filing jointly with income of $425,000, you are $25,000 over the $400,000 threshold. That results in a $1,250 reduction ($50 × 25), so your credit would be $750 per child instead of $2,000.

Can I claim the credit if my child is 17 years old?

Only if your child is under 17 at the end of the tax year. If your child turns 17 on December 31, 2024, they do not may have access to for the 2024 credit. If they turn 17 on January 1, 2025, they do may have access to for the 2024 credit (filed in 2025).

Is the Child Tax Credit the same as the Earned Income Tax Credit?

No. They are two separate credits. The Child Tax Credit is $2,000 per child under 17 and does not depend on your income level (though it phases out at higher incomes). The Earned Income Tax Credit is based on your earned income and filing status and is worth different amounts depending on how many children you have and your income.