Can I deduct the Child Tax Credit on my tax return?

A Child Tax Credit of $1,000 is available on your tax return for each qualifying child of a taxpayer under age 17. Qualifying children are a taxpayer's child, stepchild, grandchild, great grandchild or eligible foster child that the taxpayer claims as a dependent on his/her tax return. An adopted child qualifies for the Child Tax Credit on your tax return if placed with you by an authorized agency for legal adoption, even if the adoption is not final by the end of 2006. The total Child Tax Credit on your tax return is reduced by $50 for each $1,000 by which your modified adjusted gross income exceeds $110,000, if filing a joint tax return; $75,000 if filing a single tax return, head of household tax return, or qualifying widow(er) tax return; and $55,000 if married filing a separate tax return.
Related tax information about the Child Tax Credit
Tax Directory Topics:
Child and Dependent Care Credit
Tax Credits
IRS publications about the Child Tax Credit:
See IRS Publication 17, Your Federal Income Tax and IRS Publication 972 Child Tax Credit. Please read this IMPORTANT Editor's Note regarding navigating IRS publications with Adobe Acrobat Reader.
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