01/06/2024
The maximum tax credit per qualifying child is $2,000, while the maximum for the additional child tax credit (ACTC) is $1,600 per qualifying child — at least for tax year 2023. The ACTC is the refundable portion of the CTC, and holds its own requirements.
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According to the IRS, taxpayers must meet several requirements to qualify for the CTC, including:
✅Be a parent or guardian who is filing taxes in 2024.
✅Have a dependent under 17 years of age.
✅The dependent must either be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister or a descendant of one of these (for example, a grandchild, niece or nephew).
✅They must have a Social Security number.
✅They must provide no more than half of their own financial support during the year.
✅They lived with you for more than half the tax year.
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