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What is the phase out for claiming the child tax credit if married?
0
votes
I pay an in home person to care for my child.Also EVERY OTHER YR i can claim my oldest from prev. marriage., and pay babysitter for him during the summer.
asked
4 weeks
ago
in
IRS
by
SteveTheMan
(
28,020
points)
Tweet
3 Answers
0
votes
As long as you make less than 110,000 you can take the full 1000 dollar child tax credit. After that it goes down a little at a time.
answered
4 weeks
ago
by
HealthInsurance101
(
28,800
points)
0
votes
Child Tax Credit or Dependent Care Credit. They are different animals and it sounds like you are talking about the Dependent Care Credit.
There is no income phaseout for the Dependent Care Credit.
answered
4 weeks
ago
by
SteveTheMan
(
28,020
points)
0
votes
The percentage or expenses allowed as a credit goes down with income, but there isn't a phase-out - lowest % is 20% which is for AGI of $43K and up.
Maximum amount you can count for credit is $3000 for one child, $6000 for two or more. So if your income is over $43K, the maximum credit for one child would be 20% of $3K, or $600.
answered
4 weeks
ago
by
LasikSurgery
(
27,700
points)
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asked
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