What Is the Child Tax Credit?
The federal Child Tax Credit (CTC) lets parents claim up to $2,000 per qualifying child under age 17, of which up to $1,700 can be refunded even if you owe no tax, through the Additional Child Tax Credit. For dependents who no longer qualify for the CTC — including 17-year-olds and full-time students up to age 23 who still rely on you for support — the IRS offers the $500 Credit for Other Dependents instead. Once a dependent turns 24 (or earlier if not a full-time student), neither credit applies.
Both credits begin phasing out once your modified adjusted gross income exceeds $200,000 for single filers or $400,000 for married couples filing jointly, reducing by $50 for every $1,000 over the threshold. This calculator lets you enter a child's current age to instantly see which credit applies and what the annual and monthly-equivalent value looks like, assuming your income is under the phase-out range. Claim the credit by listing your dependent on Form 1040 and completing Schedule 8812 when you file your federal return.
Frequently Asked Questions
The federal Child Tax Credit is up to $2,000 per qualifying child under age 17, with up to $1,700 refundable as the Additional Child Tax Credit.
Dependents age 17 or older, including full-time students up to 23, may qualify for the $500 Credit for Other Dependents instead.
The credit phases out for incomes above $200,000 (single) or $400,000 (married filing jointly). This calculator assumes income below those thresholds.