How Much is the Child Tax Credit and the Additional CTC
For tax year 2024, the Child Tax Credit was up to $2,000 per child, non-refundable.
If you are unable to use the full CTC as a non-refundable credit because your tax liability isn’t high enough, then you may qualify for the Additional Child Tax Credit (ACTC). This is a Refundable credit of up to $1,700. The total CTC plus ACTC is $2,000.
The ACTC is computed as 15% of your taxable earned income over $2,500, up to the maximum, as stated above.
Note that the CTC was substantially different in tax year 2021 and that is annotated elsewhere in TXLNX.
TXLNX 12/10/2024