You may be able to claim a child tax credit if you have a qualifying child. The credit can be as much as $600 for each qualifying child.
A qualifying child is a child who:
- Is claimed as your dependent,
- Was under age 17 at the end of 2002,
- Is your son, daughter, adopted child, descendant of a child, stepchild, or eligible foster child, and
- Is a U.S. citizen or resident.
The credit is limited if your modified adjusted gross income is above a certain amount. The amount at which this phase out begins depends on your filing status, which is as follows:
| Married filing joint | $110,000 |
| Head of Household/Single/Qualifying Widow or Widower | $ 75,000 |
| Married filing separate | $ 55,000 |
The child tax credit is also limited by the sum of the amounts of your income tax liability and any alternative minimum tax liability. However, if the amount of your child tax credit is more than your taxes, you may be able to claim an "additional" child tax credit for as much as 10% of your earned income greater than $10,000. Or, if you have three or more qualifying children, you may be able to claim an additional child tax credit up to the amount of Social Security you paid during the year, less any earned income credit you receive. You receive the greater additional child tax credit for which you qualify.
The total of both credits still cannot be more than $600 (the maximum) for each qualifying child. These credits are in addition to the child and dependent care credit and the earned income credit.
Follow your Instructions for Form 1040 or Instructions for Form 1040A and complete the child tax credit worksheet. Certain taxpayers may also have to complete worksheets in Publication 972 (PDF). Use Form 8812 (PDF) to figure the additional child tax credit and attach it to your return. For more information on the child tax credit, refer to Publication 17 (PDF) .
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