Child Tax Credit Flashcards
1
Q
Is the child tax credit a refundable or non refundable credit?
A
It is a non refundable credit
2
Q
What is the maximum non-refundable child tax credit amount?
A
$2,000 for each qualifying child
3
Q
What is the AGI phase out for the child tax credit?
A
Reduced $50 for each $1,000 of mod AGI above 400k for MFJ or 200k all other filing status.
4
Q
What form is required to claim the CTC?
A
Form 8812
