Is there a minimum income requirement for the child tax credie?

Question

I have a 13-month-old daughter, and this is the first year that I will be claiming her on my taxes. However, I am a full-time student and my only income is from work-study. I earned a grand-total of $1608.42. I put my preliminary info into one of those tax refund websites, and it says I"m eligable for the EIC, but what about the child tax credit? Is there a reason why I would not be able to get that, too? I do not have my W2 yet, so I can't officially file, yet, but I would like to know why I can get the EIC but not the CTC. If anyone has any insight, please share it with me!
Thanks!

Answer 1

there one and the same. if you have earned income as opposed to unearned income then you are eligible for it.Look in the phone book for the toll free number of the IRS, believe it or not they will help you out, and don't worry, no matter how you prepare your taxes,(do it yourself or a co. firm), the IRS computes every ones taxes again and they will adjust your return one way or the other.

Answer 2

You don't get the child tax credit because you don't owe any taxes. The child tax credit can only take your taxes down to zero, and yours are already there so there's nothing to reduce.

The EIC is what's called a refundable credit, which means that if you're eligible, you get it even if you don't owe taxes.

Answer 3

The Child Tax Credit reduces taxes owed, up to $1,000 per dependent child under age 17.

You owe no income tax, so there is nothing to credit, and you receive no Child Tax Credit.

There is another related credit, the Additional Child Tax Credit. This credit refunds taxpayers who did not use up all their Child Tax Credit. This credit is 15% of income in excess of $11,300, up to the amount of the unused Child Tax Credit.

Since your income is below $11,300, you do not receive any Additional Child Tax Credt.