age limit on child tax credit
Additional Child Tax Credit-If the amount of your Child Tax Credit is greater than the amount of income tax you owe, you may be able to claim the Additional Child Tax Credit. Child Tax Credit when your child reaches 16. Child Tax Credit usually stops on 31 August after your child turns 16 but can continue for children under 20 in approved education, training or registered with a careers service. You must also tell the Tax Credit Office if your child: 1  turns 18 and stays in approved education or training. 2  turns 19 and stays in approved education or training. The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income. Here are 10 important facts from the IRS about this credit and how it may benefit your family. Amount-With the Child Tax Credit, you may be able to reduce your federal income tax by up to $1,000 for each qualifying child under the age of 17. Qualification-A qualifying child for this credit is someone who meets the qualifying criteria of six tests: age, relationship, support, dependent, citizenship, and residence. I was just wondering if anyone knew the logic behind cutting off the child tax credit at age 17, thereby making any child ineligible if they turned 17 at any point in time during that year. The Child Tax Credit is 2 parts. The first is non-refundable and can only reduce the tax to $0. If the full amount of the credit (generally $1000 a qualifying child …) is not used, it becomes the Additional Child Tax Credit and the amount of refundable credit is calculated on Form 8812. Why not 18, or why not the year of high school graduation. My 17 year old is in 11th grade, and my husband about blew a gasket when he found out that we only would receive the tax credit for our 7 year old for 2005. I know they had to pick a cutoff age, but 17 just seems to be a strange age. jiggreen. You can only claim the Child Tax Credit for a dependent who is under the age of 17 (on December 31 of the tax year in question). The expenses must be for a child 12 years of age or younger, it may have included older kids in prior years. There aren't too many 16 year-olds with baby sitters or in nursery school. It's a credit of one-third or less of expenses incurred, it runs to $1000 or less per year. You must tell the Tax Credit Office if your child: 1  turns 16 and stays in approved education or training. 2  starts or leaves approved education or training. 3  joins or leaves a careers service. 4  starts getting benefits themselves, eg Universal Credit. 5  gets married, forms a civil partnership or starts to live with a partner.
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