Please see the following requirements to claim the child tax credit of $2000 per child: To qualify for the Child Tax Credit, your child must fit all of these requirements: Be under age 17 at the end of the tax year Is your son, daughter, stepchild, foster child, adopted child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them (for example, a grandchild, niece, or nephew) Has his or her own Social Security Number Children with ITINs don't qualify, but may instead be eligible for the $500 Credit for Other Dependents Lived with you for more than half the year Didn't support him/herself (i.e., didn't pay more than half their own expenses) Is a U.S. citizen, U.S. national, or U.S. resident alien Residents of Canada or Mexico wouldn't qualify Up to $1,400 of the credit is refundable and is phased-in based on your earned income. In most cases, you must have $2,500 or more of earned income to be eligible for any portion of the refundable Child Tax Credit. The $2,000 per-child credit is reduced once your AGI reaches $200,000 (or $400,000 if you're filing jointly with your spouse).

Question

Why is my child tax credit only $500

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March 8, 2020
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KarenJ2

Please see the following requirements to claim the child tax credit of $2000 per child:

To qualify for the Child Tax Credit, your child must fit all of these requirements:

Be under age 17 at the end of the tax year
Is your son, daughter, stepchild, foster child, adopted child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them (for example, a grandchild, niece, or nephew)
Has his or her own Social Security Number
Children with ITINs don't qualify, but may instead be eligible for the $500 Credit for Other Dependents
Lived with you for more than half the year
Didn't support him/herself (i.e., didn't pay more than half their own expenses)
Is a U.S. citizen, U.S. national, or U.S. resident alien
Residents of Canada or Mexico wouldn't qualify

Up to $1,400 of the credit is refundable and is phased-in based on your earned income.  In most cases, you must have $2,500 or more of earned income to be eligible for any portion of the refundable Child Tax Credit.

The $2,000 per-child credit is reduced once your AGI reaches $200,000 (or $400,000 if you're filing jointly with your spouse).

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