– Age of Qualifying Child – Must be under 17 years old at the end of 2023.
– Relationship – Must be the taxpayer’s son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, or a descendant of any of these individuals (such as a grandchild, niece, or nephew).
– Support – The child must not have provided more than half of their own support during 2023.
– Dependent Status – The child must be claimed as a dependent on the taxpayer’s tax return.
– Citizenship – The child must be a U.S. citizen, national, or resident alien.
– Residency – The child must have lived with the taxpayer claiming the credit for more than half of 2023.
– Taxpayer’s Income – Income thresholds to claim the full credit in 2023 are $200,000 for single filers and $400,000 for married filing jointly. The credit phases out above those amounts.
– Valid Social Security Number – The child must have a valid SSN by the due date of the tax return (including extensions).
– Tax Return Filing – The credit can only be claimed by filing a 2023 tax return in 2024.
