Did you know that your greatest joy can also be one your biggest tax deductions? Learn more about what is the Child Tax Credit and how you may qualify. You can get back up to $1,000 on your return if you have a child 16 or younger.
Hi, I'm Arye from TurboTax with some helpful information about the Child Tax Credit and how you can qualify.
- First, if you have a child, they must have been under the age of 17 on the last day of the calendar year for which you are claiming the credit. For example, if your child turns 17 on January 1st of the next year, you can claim that child on prior year taxes and are eligible for the Child Tax Credit.
- Second, the child you claim must be a US citizen, a US national or a US resident alien.
- Third, the child is a legal relation, meaning he or she must be your naturally born child, adopted child, stepchild, foster child, brother, sister, stepbrother, stepsister ... or be a descendant of any of them (like your grandchild, niece, or nephew).
- And lastly, your child must have lived with you for more than half the calendar year, and you must provide more than half of their support costs.
Children born during the year or those that have passed away also qualify.
Get every deduction
TurboTax Deluxe searches more than 350 tax deductions and credits so you get your maximum refund, guaranteed.