Amount of Credit

The maximum credit you can claim is $500 for each qualifying child.

Limits on the Credit

Your credit may be limited depending on the amount of your tax liability and your modified adjusted gross income (AGI).

You must reduce your child tax credit if:

1. Your tax liability is less than the credit, or
2. Your modified AGI is above the amount shown below for your filing status.

• Married filing jointly - $110,000
• Single, head of household, or qualifying widow(er) - $75,000
• Married filing separately - $55,000

Tax liability. Your tax liability is the amount on line 40 (Form 1040) or line 26 (Form 1040A). If this amount is zero, you cannot take this credit because there is no tax to reduce. But if you have three or more qualifying children, you may be able to take the additional child tax credit. See Additional Child Tax Credit, later.

Modified AGI. For purposes of the child tax credit, your modified AGI is your AGI plus the following amounts that may apply to you.

• Any amount excluded from income because of the exclusion of income from Puerto Rico.
• Any amount on lines 43 and 48 of Form 2555, Foreign Earned Income.
• Any amount on line 18 of Form 2555-EZ, Foreign Earned Income Exclusion.
• Any amount on line 15 of Form 4563, Exclusion of Income for Bona Fide Residents of American Samoa.

If you do not have any of the above, modified AGI is the AGI amount on line 34 (Form 1040) or line 20 (Form 1040A).

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