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How much is the Child Tax Credit for 2023?

Updated: Feb 4, 2023

The maximum tax credit per qualifying child is $2,000 for children five and under – or $3,000 for children six through 17 years old. Additionally, you can't receive a portion of the credit in advance, as was the case last year.

Who qualifies for the Child Tax Credit?

There are several requirements to qualify for the Child Tax Credit. The first is you must be a parent or guardian who is filing taxes in 2023.

For your child or dependent to qualify, they must have a Social Security number that is valid for employment in the U.S. according to the IRS. They must be under 17 years old. And the other requirements are:

  • They are your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or descendant (such as a niece, nephew or grandchild).

  • They provide no more than half of their own financial support during the year.

  • They have lived with you for more than half the year.

  • They are properly claimed as your dependent on your tax return.

  • They do not file a joint return with their spouse for the tax year or file it only to claim a refund of withheld income tax or estimated tax paid.

  • They are a U.S. citizen, U.S. national or U.S. resident alien.

As a parent or guardian, you are eligible for the Child Tax Credit if your adjusted gross income is less than $200,000 when filing individually or less than $400,000 if you're filing a joint return with a spouse.

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