👨👩👧👦 Child & Dependent Credit Navigator
Your Guide to Schedule 8812 Benefits (2024)
Understanding Your Family Tax Credits
Schedule 8812 helps you claim the Child Tax Credit (CTC) and the Credit for Other Dependents (ODC). These valuable credits can significantly reduce your tax bill. Let's break them down.
Credits at a Glance
Child Tax Credit (CTC)
Max Credit Amount:
$2,000
per qualifying child
Key Requirement: Age
Must be under age 17 at the end of 2024.
Key Requirement: Tax ID
Must have a Social Security Number (SSN) that is valid for employment.
Is it Refundable?
Up to $1,700 can be refundable as the Additional Child Tax Credit (ACTC) for 2024.
Credit for Other Dependents (ODC)
Max Credit Amount:
$500
per qualifying person
Key Requirement: Age
Can be any age, including 17 or older, or a qualifying relative.
Key Requirement: Tax ID
Must have an SSN, ITIN, or ATIN.
Is it Refundable?
No. This is a nonrefundable credit, meaning it can only reduce your tax liability to zero.
Interactive Eligibility Checker
Answer a few questions about your dependent to see which credit they might qualify for.
1. Do you claim this person as a dependent on your tax return?
2. Was this person under age 17 at the end of 2024 (born after Dec 31, 2007)?
3. Does this person have a Social Security Number (SSN) that is valid for employment?
4. Was this person a U.S. citizen, U.S. national, or U.S. resident alien?
The Additional Child Tax Credit (ACTC)
Even if you owe no income tax, you might get a refund through the ACTC. For 2024, the maximum refundable amount is $1,700 per qualifying child.
The amount is generally calculated as 15% of your earned income over $2,500.
Your Estimated Additional Child Tax Credit:
$1,700
Income Limitations
The total CTC and ODC begin to phase out if your Modified Adjusted Gross Income (MAGI) is above certain levels. The credit is reduced by $50 for each $1,000 (or fraction thereof) your MAGI is over the threshold.
