Question: How much is the Child Tax Credit for 2015.
Answer: The child tax credit has been $1,000 for the last few years. For tax year 2014 (filing in year 2015), the child tax credit is again $1,000.
To Qualify for the Child Tax Credit, you need to certain requirements:
- Age Test: Each qualified dependent under the age of 17 is eligible for the child tax credit.
- Relationship Test: The child must be your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister or a descendant of any of these individuals.
- Support Test: You must provide over 50% of their support
- Dependent Test: You must claim the child as a dependent on YOUR Federal tax return
- Citizenship Test: The child must be a US Citizen, US National or a US Resident alien.
- Resident Test: The child must have lived with YOU for more than half of the time during the tax year.
- Income Limitation: You can only qualify for the Child Tax Credit if you meet certain income requirements.