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Frequently Asked Questions

How do you calculate your child tax credit?

To calculate the tax credit for childcare expenses, multiply your qualifying expenses by the tax credit rate for your family income. The amount of your qualifying expenses is the lesser of the following: your childcare expenses that qualify for the credit for the year; the childcare expense limit.

Who can claim child tax credit?

The Child Tax Credit is worth up to $2,000 for each child who meets the following requirements: The child is younger than age 17 at the end of the tax year. The child is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, grandchild, niece, or nephew. You claim the child as a dependent. The child doesn't provide more than half of their own support. The child lived with you for more than half of the year. More items...


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