How to Claim Child Tax Credit on Your Taxes This Year

If you have a dependent child in your home, you may be able to claim a child tax credit on your taxes this season. This tax credit can be worth up to $1000 per child, and can reduce your tax bill. 

In order for you to claim this credit, you need to make sure that the dependent child is under the age of 17 during the tax year, and that he or she is living in the home with you. You can claim the tax credit on your children, stepchildren, adopted children and grandchildren. However, the child must have lived with you for at least half of the year.

To claim a child tax credit, you will have to use the 1040 or 1040A form, as it is not available on the 1040EZ form. Keep in mind that there are income limits for the credit. Those filing jointly can earn up to $110,000, singles can earn up to $75,000, and married filing separately can earn up to $55,000. The tax credit drops by $50 for every $1000 you earn over the limit.

It is easy to file and claim a child tax credit as long as you meet all of the above requirements.

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