Question

If I have always obtained the maximum tax credit of $2,000 for my child. Why am I only getting $500 this time with the same income?

Forum|Forum|2 years ago
January 23, 2024
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TurboTax Deluxe Online

Employee

Did the child turn 17 in 2023? When they turn 17 you lose the CTC and instead you get the $500 credit for other dependents.

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C

Cynthiad66

Your child may no longer qualify for the Child Tax Credit.

The Child Tax Credit is available for children under 17.

The Child Tax Credit is up to $2,000. The Credit for Other Dependents is up to $500. The IRS defines a dependent as a qualifying child (under age 19 or under 24 if a full-time student, or any age if permanently and totally disabled) or a qualifying relative.

For additional information click on this link: Rules for Claiming a Dependent

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