CHILD TAX CREDIT REQUIREMENTS EXPLAINED
Must meet before being able to claim the credit CHILD TAX CREDIT A tax credit to assist families with offsetting tax liabilities is the Child Tax Credit. The credit is capped at $1,000 per qualifying child.
7 REQUIREMENTS Age Test: Qualifying children must be age 16 or younger on December 31 of any given tax year. Relationship Test: In terms of relationship, the child to the adult relationship must be valid. Support Test: Parents and legal guardians must provide more than half of a child’s financial needs for an entire tax year to qualify. Dependent Test: To be able to qualify as a dependent, the relationship test must first be passed. The child cannot be over age 18, unless the child is still in school. Citizenship Test: Qualifying children must be U.S. citizens. They also qualify if they are a documented U.S. resident alien or U.S. national. U.S. national status is in regards to a person born in American Samoa or Commonwealth of the Northern Mariana Islands. Residence Test: A child must live with you for more than half of a tax year. If a child was born in or passed away in a tax year, they qualify as a living with you for the whole tax year. Family Income Test: If your adjusted gross income exceeds income thresholds, the amount of your Child Tax Credit is reduced.
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WWW.FRANKELLIS.EDUBLOGS.ORG/2016/09/10/CHILD-TAX-CREDIT-REQUIREMENTS