If you claim dependents, you likely qualify for one of these two credits.
Child Tax Credit (CTC)
- Amount: Up to $2,000 per qualifying child under age 17.
- Refundable Portion: If the credit reduces your tax to zero, you may receive up to $1,700 as a refund (this is called the “Additional Child Tax Credit”).
- Eligibility: The child must be your dependent, under age 17 at the end of the year, and have a valid Social Security number.
Credit for Other Dependents (ODC)
- Amount: Up to $500 per dependent.
- Who Qualifies: Dependents who do not qualify for the CTC, such as:
- Children age 17 or older.
- Dependent parents or other relatives.
- Dependents with an ITIN instead of an SSN.
- Non-Refundable: This credit can only reduce your tax bill to zero; it cannot trigger a refund.
Official IRS Resource: Child Tax Credit
