tiff49
2 Answers
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Jack Large
The child tax CREDIT ( it is NOT an adjustmnet of you gross income) can knock $1,000 off your tax bill.
However fhe credit starts to phase out when your modified adjusted gross income exceeds $110,000 if you are married, $55,000 if you are filing separately and $75,000 if you are single, a head of household or a qualifying widow or widower.
You can claim the credit for any number of qualifying children, but the total credit amount generally can't exceed your tax liability.
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