Child Tax Credit: Guidelines for Claiming a Child on Taxes When Married and Filing Separately

Guidelines for Claiming a Child on Taxes When Married and Filing Separately

Child Tax Credit: Low- and middle-income families can claim the Child Tax Credit for 2024, which offers $2000 per qualifying child and up to $1600 in refundables.

Families who qualify for $2000 must have a MAGI (Modified Adjusted Gross Income) under $400,000, calculated by subtracting their income from adjustments.

Since only one parent can claim on behalf of a qualifying child, it is most likely to be the parent who contributes the most to the child’s housing.

The IRS requires that the person with the highest adjusted gross income claim for the child if both parents lived together equally.

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What effect does married filing separately have on the Child Tax Credit?

It is sometimes possible for married couples to file separately to help manage their taxes, but it can also cause problems, so it’s important to consider the potential impact on tax benefits and credits, including the Child Tax Credit, before deciding if they are planning to file separately.

Filing jointly can result in a better tax outcome when you claim dependents and children’s credits.

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For married couples filing separately, the income threshold is usually lower than for married couples filing jointly. So if your income is over the threshold, you might not qualify for the full Child Tax Credit or any credit at all.

Based on your income level, filing separately as a married couple might result in a higher tax bill.

Regardless of whether the Child Tax Credit is available, it’s important to understand how married-filing-separately will affect both participants’ tax situations.

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