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1 reply

AmyC
AmyC
Employee
April 9, 2022

Income limits the credit. The increased Child Tax Credit for 2021 phases out by $50 for each $1,000 (or fraction thereof) by which the taxpayer’s modified AGI exceeds the following amounts.

•$150,000 MFJ, QW.

•$112,500 HOH.

•$75,000 Single, MFS

 

Since you are missing $250 that is $50 x 5 so 5 x $1,000 = $5,000 AGI above the threshold.

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