01/16/2025
CHILD TAX CREDIT
Beginning with tax year 2024, eligible Minnesotans may qualify for a Child Tax Credit of $1,750 per qualifying child, with no limit on the number of children claimed. This is a refundable credit, meaning you can receive a refund even if you do not owe tax. If a qualifying child is over age 17, you may not claim them for the Child Tax Credit. You may be able to claim the child for the Credit for Qualifying Older Children.
The credit gradually phases out if your income is over $31,090 ($36,880 for Married Filing Jointly).
CREDIT FOR QUALIFYING OLDER CHILDREN
If you have a qualifying child who is older than 17, you may be eligible for the Credit for Qualifying Older Children.
The credit is:
$970 for one qualifying older child
$2,210 for two qualifying older children
$2,630 for three or more qualifying older children
The credit phases out if your income is over $31,090 ($36,880 for Married Filing Jointly).