To qualify for the child tax credit, an individual must first determine eligibilityby considering the child's age, relationship to the adult, support, dependent status, citizenship, length of residency and family income, according to TurboTax. All seven requirements in these categories must be met to qualify for the tax credit.
The requirements that must be met for the child tax credit are:
- Relationship A child must belong to the claimant either by birth, adoption, or as a foster or step child. Siblings and step siblings can also be claimed, as well as other child relatives who meet all other requirements.
By the end of the tax year in which an individual is seeking to claim the credit, the child must be under the age of 17.
At least halfof financial support must have come from the claimant.
An individual must be able to claim the child as a dependent on their tax return.
The child must have lived with the individual making the claim for at least half of the tax year.
The child must be a U.S. citizen, national, or resident alien.
The tax credit is lowered if individuals or a married couple filing jointly have an income of a certain amount. The lowest minimum amount is $55,000 annually for married individuals who file separately.
It is not possible to obtain a refund on the child tax credit.