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Child Tax Credit Question

Craiger

I did not work in 2023, I just lived off my retirement and disability. I have 2 children ages 5 and 1 years old. I read somewhere that you need to work, so have a W2, and make at least $2,500 a year in order to be eligible for the $2000 child tax credit. Is this correct?

I started my 2023 tax filing on this site just to see what my tax refund would be like and I did not get the child tax credit saying I was not eligible.

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Child-related Credits

Accepted answers

Desween

how do I ask a question?

All comments

Henry

Hi Craiger! I can explain how the Child Tax Credit works. The Child Tax Credit is a nonrefundable credit, which means that it can be used to reduce your tax bill to zero but will not result in a refund. If your taxable income is low enough that you do not have any tax liability, then you won't be able to claim that credit.

If your potential Child Tax Credit is more than your tax, you may be eligible for the Additional Child Tax Credit (which is refundable). However, if your earned income is less than $2,500, you are not eligible for the Additional Child Tax Credit.

You can refer to the instructions for Schedule 8812 for more information about the qualifications for claiming those credits.

Unfortunately, based on what you have described about your situation, it sounds like you may not be able to claim the Child Tax Credit or the Additional Child Tax Credit for 2023.

Desween

how do I ask a question?

ElizaG

https://community.freetaxusa.com/discussion/comment/407#Comment_407

Hi @Desween after you make an account, you can ask a question here https://community.freetaxusa.com/post/question/LiveEvent !

kitrleysadie

I have only ssi as income and 4 dependents. I wanted to know if I can still claim credit with that income.

Lstew

@kirtleysadie If your only income is SSI, you cannot claim the Child Tax Credit. In order to claim the Child Tax Credit you need taxable earned income.

https://www.irs.gov/instructions/i1040s8