how much money is the minimum to get the maximum child tax credit? and how much is the credit per child?

Question

?

Answer 1

The minimum is $1 in income. But the BASIC child tax credit only reduces or zeroes your tax; it can't result ina refund by itself. However, if you have more earnings and your tax is zeroed out, the ADDITIONAL CHILD TAX CREDIT kicks in and is based on your Social Security amount.

In theory: You have 1 child and you are HOH. The MAX refund comes at $14825 income approximately. You get Max EIC at $2747, PLUS Additional CTC at $529, PLUS $40 telephone tax. This assumes you oaid no taxes in, because if you did, you get all that back, too!

THe WealthBuilder
Enrolled Agent
Tax Specialist

Answer 2

The credit per child is $1000. To get the full amount, you have to owe at least $1000 in taxes for each child - the most it does is wipe out your taxes, you don't get a refund of any extra.

If you don't have enough taxes to get it all, then you might be eligible for another credit, called the "additional child tax credit" and if you're eligible, you would get that even if you don't owe any tax.

Answer 3

You can access the IRS website for this information at: www.irs.gov. You will be able to get the maximum income requirements there.