Question

TurboTax is showing I only qualifying for $2000 child tax credit for a 16 year old. I thought in 2021 the amount increased to $3000?

Forum|Forum|4 years ago
January 29, 2022
1 reply
0 views

Can reaching a certain income amount decrease the child tax credit?

TurboTax Deluxe Online

VolvoGirl

Employee

Yes income can limit it. And did you already get some of the advanced Child Tax Credit?

P

Pricilla1Author

Thanks for the response. Do you know or can you point me to what the income breaks are that reduce the credit? I understand that it will be reduced by the amount already received.

D

DanaB27

Yes, if your modified adjusted gross income (AGI) is more than,

$150,000 if you're Married Filing Jointly or a Qualifying Widow
$112,500 if you're filing as Head of Household, or
$75,000 if you're Married Filing Separately or Single

then the Child Tax Credit will be reduced by $50 for each $1,000 your modified AGI is above the income threshold.

Please see What is the Child Tax Credit? for additional details.

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TurboTax is showing I only qualifying for $2000 child tax credit for a 16 year old. I thought in 2021 the amount increased to $3000?

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