Friday, November 6, 2009

Is there a limit to the number of children you can claim for the Child tax credit?

In theory there is no limit.





Large families regularly claim 5, 6, 7 and more children. (They attach extra paper to the tax return to list them.)





At some point the extra children do not change the refeund anymore.





First, the child tax credit is used to reduce your income tax.


Second, if there is credit left over, there is additional child tax credit. It's from a formula using your income, so if the income is low, it might limit the additional credit.

Is there a limit to the number of children you can claim for the Child tax credit?
No, for the Child Tax Credit you claim as many eligible children as you have. For EIC, you don't get extra money for more than two kids.
Reply:You can claim any number of children for child tax credit, but it only reduces your tax liability up to $1000. There is the additional child tax credit. This can give you up to a $1000 per child up til 5.


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