Child Tax Credit Limits Example

Bill and Mary Allen are married and want to file a joint return. They have two dependent children who lived with them all year, Billy and Suzy. Billy is 12 years, born on 6/02/20XX. Suzy is 5, born on 4/4/20XX. The children qualify for the child tax credit. Bill and Mary and both kids have valid Social Security Numbers and are U.S. citizens. They have never had a child tax credit reduced or disallowed by the IRS. Their modified adjusted gross income is $55,600. Their tax liability is $4,194.

The Interactive Tax Assistant on IRS.gov can be used to answer the question, Does My Child/Dependent Qualify for the Child Tax Credit or the Credit for Other Dependents?