The 2024 child tax credit is $2,000 per child under 17, but the amount you can claim depends on your income and filing status

The Child Tax Credit for 2024 allows you to reduce your federal income tax by $2,000 for each child under age 17 at the end of the tax year. The full credit applies if your modified adjusted gross income (MAGI) stays below certain thresholds. Once your income exceeds those thresholds, the credit begins to phase out — meaning it shrinks by $50 for every $1,000 (or fraction thereof) of income above the limit.

The income thresholds where the credit starts to reduce are $400,000 for married couples filing jointly and $200,000 for all other filers. If your income is below these amounts, you can claim the full $2,000 per child. If your income is above these amounts, you will need to calculate how much of the credit you lose.

Key Takeaways

  • The Child Tax Credit is $2,000 per child under 17 in 2024, and you do not lose any of it unless your income exceeds $400,000 (married filing jointly) or $200,000 (all other filers).
  • For every $1,000 of income above the threshold, the credit reduces by $50, so high earners may not be able to claim the full amount.
  • You must have a valid Social Security number for each child to claim the credit on your tax return.
  • The credit is nonrefundable, meaning it can reduce your tax to zero but cannot result in a refund unless you also have dependent care or education credits.

Income thresholds and phase-out calculations

Your income determines whether you receive the full $2,000 credit or a reduced amount. The IRS uses your modified adjusted gross income (MAGI) to make this calculation. For most people, MAGI is the same as your adjusted gross income (AGI), which appears on your tax return.

If you are married filing jointly, the credit begins to phase out at $400,000 of MAGI. If you file as single, head of household, or may have access to widow(er), it phases out at $200,000. If you file as married filing separately, it phases out at $200,000. For every $1,000 of income above your threshold (or any part of $1,000), the credit decreases by $50. This means if your income is $1 over the threshold, you lose $50 of the credit.

To calculate your reduced credit, subtract the threshold from your MAGI, divide by 1,000 and round up to the nearest whole number, then multiply by $50. Subtract that amount from $2,000 per child. If the result is negative, your credit for that child is zero.

Who can claim the Child Tax Credit

You can claim the Child Tax Credit for a child if you meet all of these conditions: the child is your son, daughter, stepchild, foster child, sibling, or descendant of any of these (such as a grandchild or niece); the child was under age 17 at the end of 2024; the child lived with you for more than half of 2024; you provided more than half of the child's financial support during 2024; the child is a U.S. citizen, national, or resident alien; and the child has a valid Social Security number.

You must also be a U.S. citizen, national, or resident alien to claim the credit. If you are married, you can claim the credit whether you file jointly or separately, but the income threshold is lower if you file separately. You cannot claim the credit for yourself or for a child who files a joint return with a spouse.

Refundable versus nonrefundable portions

The Child Tax Credit is nonrefundable, which means it can reduce your tax bill to zero but will not generate a refund on its own. However, a portion of the credit — up to $1,700 per child in 2024 — may be refundable as the Additional Child Tax Credit if you meet income requirements.

The Additional Child Tax Credit is refundable only if your earned income (wages, self-employment income, or other work-related earnings) is more than $2,500 for the year. If you have three or more children, you may also be able to claim a refund based on a different calculation. You will report this on Schedule 8812 when you file your return.

Children who turn 17 in 2024

A child must be under age 17 at the end of the tax year to count for the Child Tax Credit. If your child turns 17 on December 31, 2024, they do not count because they are 17 at year-end. If your child turns 17 on January 1, 2025, they do count because they were 16 at the end of 2024.

Once a child reaches age 17, you may be able to claim the Credit for Other Dependents instead, which is worth $500 per dependent. This credit has the same income thresholds and phase-out rules as the Child Tax Credit but applies to dependents who do not meet the age requirement.

How to claim the credit on your tax return

You claim the Child Tax Credit on Form 1040 (U.S. Individual Income Tax Return). You will need to list each child's name, date of birth, and Social Security number. The IRS matches this information against Social Security Administration records, so the name and number must be exact and the child must have a valid SSN.

If you think you may be able to claim the Additional Child Tax Credit (the refundable portion), you will also complete Schedule 8812 and attach it to your return. If you received advance payments of the Child Tax Credit in prior years, you may need to reconcile those payments on your return as well.

Changes from prior years

The $2,000 per-child amount and the income thresholds have remained the same since 2018. In 2021 and 2022, the credit was temporarily increased to $3,000 per child (or $3,600 for children under 6), and advance payments were sent to families throughout those years. Those temporary increases ended after 2022, and the credit returned to $2,000 in 2023 and remains $2,000 in 2024.

The income thresholds have not changed since 2018 either. They are not adjusted for inflation each year, so they remain at $400,000 for married filing jointly and $200,000 for other filers.

Frequently Asked Questions

What if I do not have a Social Security number for my child?

You cannot claim the Child Tax Credit without a valid Social Security number for each child. If your child does not have an SSN, you can explore for one through the Social Security Administration. You may be able to claim the credit in a later year once the number is issued.

Can I claim the credit if my child lives with their other parent?

Only one parent can claim the credit for a child in a given year, even if both parents share custody. The child must live with you for more than half the year. If you and the other parent split the year evenly, neither of you meets the "more than half" test, and you will need to determine who claims the child based on a tiebreaker rule.

What happens if the IRS rejects my child's Social Security number?

The IRS will reject the return if the name and SSN do not match Social Security Administration records. You will need to verify the information is correct, contact the Social Security Administration if needed, and file an amended return once the issue is resolved. Do not guess or use a different number.

Does the Child Tax Credit reduce my self-employment tax?

No. The Child Tax Credit reduces only your federal income tax, not your self-employment tax. If you are self-employed, you still owe self-employment tax on your net earnings even if the credit reduces your income tax to zero.

Can I claim the credit for a foster child or grandchild?

Yes, if the child meets all the other requirements. The child must live with you for more than half the year, you must provide more than half their financial support, and they must have a valid Social Security number. Foster children and grandchildren count the same as biological children.