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

For the 2024 tax year, the federal child tax credit remains $2,000 per may have access to child under age 17 at the end of the year. This is the same amount as 2023. The credit applies to children who are U.S. citizens, nationals, or resident aliens, and you must claim them as dependents on your return.

The credit begins to phase out if your modified adjusted gross income (MAGI) 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.

You may receive part of the credit as a refund even if you owe no tax. The refundable portion — called the additional child tax credit — is limited to $1,700 per child for 2024, based on your earned income. This means if your tax liability is lower than $2,000 per child, you could still receive a refund up to that $1,700 limit.

Key Takeaways

  • The credit is $2,000 per child under 17, and it reduces your tax dollar-for-dollar up to your total tax liability.
  • If you have more credit than tax owed, you may receive up to $1,700 per child as a refund through the additional child tax credit.
  • The credit phases out at $400,000 MAGI for joint filers and $200,000 for single filers, reducing by $50 for each $1,000 over the limit.
  • You must have a valid Social Security number for each child and claim them as dependents to receive the credit.

Income limits and phase-out rules

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 calculate the phase-out. For most taxpayers, MAGI is the same as your adjusted gross income (AGI) shown on your tax return.

The phase-out thresholds for 2024 are:

  • $400,000 for married couples filing jointly
  • $200,000 for single filers, heads of household, and may have access to widows/widowers
  • $200,000 for married couples filing separately

If your MAGI exceeds these thresholds, subtract $50 from the credit for each $1,000 (or fraction of $1,000) over the limit. For example, if you are single with MAGI of $201,500 and two children, you would owe $50 for the first $1,000 over $200,000, plus $50 for the remaining $500 (counted as a full $1,000). Your credit would reduce from $4,000 to $3,900.

The additional child tax credit (refundable portion)

The additional child tax credit is the part of the $2,000 credit that can be refunded to you even if you owe no federal income tax. For 2024, this refundable portion is limited to $1,700 per child.

To claim the additional child tax credit, your earned income must be at least $2,500. Earned income includes wages, salary, self-employment income, and certain other compensation. If your earned income is less than $2,500, you cannot claim this refundable credit.

The refundable credit is calculated as 15% of your earned income above $2,500, up to the $1,700 limit per child. This means if you have $20,000 in earned income and one may have access to child, you would calculate 15% of ($20,000 − $2,500) = $2,625, but the credit caps at $1,700. You would receive the $1,700 refund if your tax liability is lower than your total credit.

Who counts as a may have access to child

To claim the child tax credit, the child must meet several requirements. The child must be under age 17 at the end of the tax year (turning 17 does not disqualify them if they have not yet reached that age by December 31). They must be your son, daughter, stepchild, foster child, sibling, or descendant of any of these relationships.

The child must be a U.S. citizen, national, or resident alien with a valid Social Security number. You must claim them as a dependent on your tax return, and they must live with you for more than half the year (with some exceptions for temporary absences like school or medical treatment).

The child cannot have provided more than half their own financial support during the year. If a child is claimed as a dependent by another taxpayer (such as a non-custodial parent), you cannot claim the credit for that child.

How the credit interacts with other tax benefits

The child tax credit can be claimed alongside other child-related benefits, but some combinations affect how much you receive. If you claim the child and dependent care credit (for childcare expenses), you reduce your income before calculating the child tax credit, which may lower the phase-out threshold impact.

The credit does not affect your ability to claim the earned income tax credit (EITC) if you are may be able to access. However, if you claim the EITC, your income calculation for the child tax credit phase-out uses the same MAGI, so a higher income could reduce both credits.

If you receive advance child tax credit payments (from prior-year programs), you must reconcile those payments when you file your 2024 return. The IRS will compare what you received in advance to what you are may have access to to claim, and you may owe back some payments or receive an additional refund.

Claiming the credit on your tax return

You claim the child tax credit on Form 1040 (the main individual income tax return) or Form 1040-SR if you are age 65 or older. The credit is reported on line 16 of the 2024 Form 1040.

You will need the child's full name and valid Social Security number. The IRS matches this information against Social Security Administration records, so any mismatch will delay your refund or result in the credit being denied.

If you are claiming the additional child tax credit (the refundable portion), you must also complete Schedule 8812 and attach it to your Form 1040. This schedule calculates the refundable amount based on your earned income and the number of may have access to children.

Changes from prior years and what to watch for

The $2,000 credit amount and $1,700 refundable limit have remained the same since 2018. However, the income thresholds for phase-out are adjusted annually for inflation. The 2024 thresholds ($400,000 and $200,000) are higher than 2023, meaning fewer taxpayers will see their credit reduced.

If you received advance child tax credit payments in 2021 or 2022 (from pandemic-era programs), those were separate from the regular credit and have already been reconciled on prior-year returns. The 2024 credit operates under the permanent rules that have been in place since 2018.

Keep records of your children's Social Security numbers and birth dates. If a child ages out (turns 17 during the year), you can still claim the credit if they had not yet reached 17 by December 31. If a child is born during the year, you can claim the credit for that child on your 2024 return.

Frequently Asked Questions

Can I claim the credit for a child who turned 17 in 2024?

No. The child must be under age 17 at the end of the tax year (December 31, 2024). If your child turned 17 at any point during 2024, they do not meet the age requirement for the 2024 credit. However, you may be able to claim them as a dependent for other tax purposes.

What if my child does not have a Social Security number?

You cannot claim the child tax credit without a valid Social Security number for the child. If your child is a U.S. citizen or resident alien but does not yet have a number, you can request one from the Social Security Administration. The IRS will not process the credit without this match.

Do I lose the entire credit if my income is over the phase-out threshold?

No. The credit reduces by $50 for each $1,000 (or fraction thereof) over the threshold, but you do not lose it entirely unless your income is very high. For example, a single filer with $250,000 MAGI and two children would reduce the $4,000 credit by $2,500 (50 × $50), leaving $1,500 in credit.

If I did not receive advance child tax credit payments, do I claim the full $2,000 now?

Yes, if you did not receive advance payments and your child meets all requirements, you claim the full $2,000 per child on your 2024 return (subject to phase-out if your income exceeds the threshold). The advance payment program ended in 2021, so most 2024 filers will claim the credit directly on their return.

Can I claim the credit for a foster child?

Yes, if the foster child meets the other requirements: under age 17, a U.S. citizen or resident alien with a valid Social Security number, living with you for more than half the year, and claimed as your dependent. Foster children are treated the same as biological children for the credit.