Child Tax Credit Calculator
Estimate your U.S. federal Child Tax Credit (CTC) and refundable Additional Child Tax Credit (ACTC) for 2023 or 2024. Includes phaseout by filing status, MAGI, and earned income.
Child Tax Credit Inputs
ACTC is limited to the smallest of the leftover Child Tax Credit, the per-child refundable cap, and 15% of earned income over $2,500.
How to Use This Calculator
Enter the filing year, income thresholds, and the number of dependents once you have your MAGI and earned income figures from your current or prior tax filing. The calculator reports the remaining Child Tax Credit, Other Dependent Credit, and the maximum refundable Additional Child Tax Credit.
- Select the year you are estimating (2023 or 2024). The refundable cap per child adjusts to $1,600 for 2023 and $1,700 for 2024.
- Pick the filing status to lock in the correct phaseout threshold ($400,000 for Married Filing Jointly, $200,000 for all other statuses) and enter counts for qualifying children under 17 and other dependents.
- Provide MAGI to trigger the phaseout and earned income to cap the refundable ACTC portion via the 15% rule above $2,500.
Methodology
The calculator follows the fixed IRS workflow: it computes the pre-credit totals for CTC and ODC, applies a $50 reduction for each $1,000 (or fraction) that MAGI exceeds the filing-status threshold, subtracts the phaseout from the CTC first, and determines the highest refundable ACTC limited by the leftover CTC, the per-child refundable cap, and 15% of earned income beyond $2,500.
- Pre-credit totals are 2,000 per qualifying child under 17 and 500 per other dependent.
- Phaseout reduction only begins after the threshold, always strips down the child credit first, and never exceeds the total pre-credit amount.
- Additional Child Tax Credit is capped by the smallest of the remaining CTC after phaseout, the per-child refundable limit, and 15% of earned income above $2,500.
Full original guide (expanded)
This section preserves the detailed guidance captured in the prior audit draft, including step-by-step examples and FAQs that explain how the Child Tax Credit, Other Dependent Credit, and Additional Child Tax Credit interact.
- Select the filing year (e.g., 2024) and filing status (e.g., Head of Household) so the calculator uses the correct thresholds ($200,000 for HOH, $400,000 for MFJ).
- Enter dependents, such as two qualifying children under 17 and one additional dependent age 17 or older.
- Provide MAGI (e.g., $215,000) and earned income (e.g., $60,000) to feed the phaseout and refundable rules.
- The calculator computes pre-phaseout totals (CTC = 2 × $2,000 = $4,000; ODC = 1 × $500 = $500; total $4,500) and reduces the CTC first by the phaseout amount (e.g., $750). Remaining phaseout does not double-dip into the ODC unless needed.
- To estimate the refundable ACTC, it applies the per-child refundable cap (2024 = $1,700) and 15% of earned income over $2,500, then picks the smallest of those limits alongside the remaining CTC.
Selected FAQs
Who qualifies for the Child Tax Credit?
Generally, a dependent under age 17 at year end, with a valid SSN, who lived with you over half the year, did not provide more than half of their own support, and meets relationship and residency tests.
What are the 2024 Child Tax Credit amounts?
Up to $2,000 per qualifying child under 17, with up to $1,700 potentially refundable (Additional Child Tax Credit), subject to income phaseouts.
When do phaseouts start?
Phaseouts begin at MAGI $200,000 for Single, Head of Household, Married Filing Separately, and Qualifying Surviving Spouse; Married Filing Jointly begins at $400,000. The credit shrinks by $50 for each $1,000 (or fraction) over the threshold.
What is the Credit for Other Dependents?
A nonrefundable $500 credit for each qualifying dependent who does not satisfy the under-17 test. They share the same phaseout brackets as qualifying children.
How is the refundable Additional Child Tax Credit calculated?
It is limited to the smallest of the child credit remaining after phaseout, the annual per-child refundable cap (2023 = $1,600; 2024 = $1,700), and 15% of earned income above $2,500. Actual refunds also depend on nonrefundable tax liability.
Does this tool give tax advice?
No. This calculator is for educational estimates and cannot replace personalized advice or official IRS worksheets. Always review IRS instructions or consult a tax professional.