The 2024 child tax credit is $2,000 per child under age 17

The Child Tax Credit for 2024 is $2,000 for each may have access to child under age 17 at the end of the tax year. This is the same amount as 2023. The credit reduces the federal income tax you owe dollar-for-dollar, and you claim it on your tax return when you file.

The credit phases out — meaning it shrinks — if your income exceeds certain thresholds. For 2024, the phase-out begins at $400,000 of modified adjusted gross income for married couples filing jointly, and $200,000 for single filers and heads of household. For each $1,000 (or fraction of $1,000) over the threshold, the credit decreases by $50.

You do not need to have paid taxes to claim the credit, but you must have earned income. The credit can reduce your tax bill to zero, and any remaining credit amount may be refundable — meaning you could receive it as a refund — up to $1,700 per child in 2024.

Key Takeaways

  • The 2024 Child Tax Credit is $2,000 per may have access to child under age 17, claimed on your federal tax return.
  • The credit phases out if your income exceeds $400,000 (married filing jointly) or $200,000 (single or head of household), reducing by $50 for each $1,000 over the limit.
  • Up to $1,700 of the credit per child may be refundable in 2024, meaning you could receive money back even if you owe no tax.
  • You must have earned income and a valid Social Security number for each child to claim the credit.

Who qualifies as a dependent child for the credit

To claim the Child Tax Credit, the child must be your may have access to child. This means the child must be under age 17 at the end of 2024, have a valid Social Security number, be a U.S. citizen, national, or resident alien, and have lived with you for more than half the year.

The child must also be related to you as a son, daughter, stepchild, foster child, sibling, or descendant of any of these (such as a grandchild or niece). If you claim the child as a dependent on your tax return, the child generally meets the relationship test.

Only one person can claim the credit for each child. If parents are divorced or separated, the parent with custody for the greater part of the year typically claims the credit, unless they sign a form releasing the claim to the other parent.

Income limits and how the credit phases out

The Child Tax Credit begins to phase out when your modified adjusted gross income (MAGI) exceeds $400,000 if you are married filing jointly, $200,000 if you are single or head of household, or $200,000 if you are married filing separately. Your MAGI is generally your adjusted gross income (AGI) with certain items added back.

For every $1,000 of income over the threshold — or any part of $1,000 — the credit reduces by $50 per child. For example, if you are single with one child and earn $201,000, you are $1,000 over the $200,000 limit. Your $2,000 credit reduces by $50, leaving you with a $1,950 credit.

If your income is very high, the credit can phase out completely. The IRS worksheet on Form 1040 or the instructions to Schedule 8812 will walk you through the calculation if your income exceeds the threshold.

Refundable versus non-refundable portions

The Child Tax Credit has two parts: a non-refundable portion and a refundable portion. The non-refundable portion can reduce your tax bill to zero but cannot result in a refund. The refundable portion — called the Additional Child Tax Credit — can result in a refund if it exceeds the tax you owe.

In 2024, up to $1,700 per child of the $2,000 credit is refundable. This means if you owe $500 in federal income tax and have one may have access to child, you could receive up to $1,700 back as a refund (though your actual refund would be limited by other tax factors). To claim the refundable portion, you must have earned income of at least $2,500 during the year.

The refundable amount is calculated on Schedule 8812 (Form 1040), which you file with your tax return. Tax software will typically calculate this automatically if you enter the required information.

How to claim the credit on your tax return

You claim the Child Tax Credit by completing Schedule 8812 (Form 1040) if you are claiming the refundable portion, or by entering the credit directly on Form 1040 if you are only claiming the non-refundable portion. Most tax software will prompt you to enter information about each may have access to child and calculate the credit automatically.

You will need the child's full name, date of birth, and valid Social Security number. The Social Security number must be issued by the Social Security Administration and be valid for employment in the United States. If a child does not have a Social Security number, you cannot claim the credit for that child.

If you file electronically, the IRS will verify the information you provide. If there is a mismatch between the name and Social Security number you report, the IRS may disallow the credit and send you a notice. You can respond to the notice with documentation showing the child's correct information.

Changes from prior years and what to watch for

The $2,000 per-child amount has remained the same since 2018. However, the refundable portion has changed year to year. In 2021 and 2022, the refundable amount was higher ($1,800 in 2022), and some families received advance payments of the credit. Those advance payments ended in 2023, and the refundable portion returned to $1,700 in 2024.

The income thresholds for phase-out are adjusted annually for inflation. The 2024 thresholds ($400,000 for married filing jointly, $200,000 for single) are higher than 2023 thresholds due to inflation adjustments. Check the IRS website or your tax software each year to confirm the current thresholds.

Congress has not extended the enhanced credit amounts or advance payment structure beyond 2022, so the credit remains at $2,000 per child with a $1,700 refundable portion for 2024 unless new legislation changes it.

Frequently Asked Questions

Can I claim the credit if my child was born in December 2024?

Yes. The child must be under age 17 at the end of 2024, so a child born on December 31, 2024 qualifies. You will need the child's Social Security number to claim the credit. If the number is not yet issued, you can file your return using an Individual Taxpayer Identification Number (ITIN) temporarily, then amend the return once you receive the Social Security number.

What happens if I claim the credit and the IRS says the Social Security number is invalid?

The IRS will send you a notice disallowing the credit. You can respond by providing documentation such as a birth certificate and Social Security card showing the correct number. If the number truly does not match the child's name in Social Security Administration records, you may need to contact Social Security to correct the record before the IRS will allow the credit.

Can both parents claim the credit if they share custody?

No. Only one person can claim the credit per child. The parent with custody for the greater part of the year claims it unless that parent signs Form 8332 releasing the claim to the other parent. If both parents try to claim the same child, the IRS will disallow one of the claims and send notices to both.

Does the credit reduce my tax bill if I owe no federal income tax?

The non-refundable portion cannot reduce your bill below zero. However, the refundable portion (up to $1,700 per child in 2024) can result in a refund even if you owe no tax, as long as you have earned income of at least $2,500 for the year.