Sunday, March 14, 2010

How much do child tax credit give you for your second child?

Up to $1000, same as your first.

How much do child tax credit give you for your second child?
The $1000 child tax credit is not always available. First, once your tax is reduced to zero, credits, including the CTC are useless. However, if there is unused CTC, the Additional Child Tax Credit may come into play. If your income is below $11300 (2006) none of it is available to you. The ACTC is 15% of the amount of EARNED income in excess of $11300.





On the other end, if your AGI is too high the credit phases out.

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