Armster Financial Services, Inc.

10/21/2024

12/31/2023

$2,000 per
The child tax credit (CTC)

The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,500 is refundable. To be eligible for the CTC, you must have earned more than $2,500.

12/05/2023

Find the maximum AGI, investment income and credit amounts for tax year 2023.

Children or Relatives Claimed

Filing as Single, Head of Filing as Married FilingJointly
Household, or Widowed

Zero $17,640. $24,210

One $46,560. $53,120

Two $52,918. $59,478

Three $56,838. $63,398

Investment income limit: $11,000 or less

Maximum Credit Amounts
The maximum amount of credit:

No qualifying children: $600
1 qualifying child: $3,995
2 qualifying children: $6,604
3 or more qualifying children: $7,430

Note: The amount of eitc you receive depends on the amount of income you file and the type of income you file, for example: if you file self-employment income, 15.3% self-employment tax comes off the top. Although 2023 eitc for 1 child is $3995, that's only $262 more than it was for 2022 (2022 eitc was $3733)

01/29/2023