Child Tax Credit

Definition: You may take a tax credit if you have dependent children. To be eligible, your child must be 16 years old or younger, must be claimed as a dependent, and must be related to you by blood, marriage, adoption, or foster arrangement. The child must also be a US citizen or resident alien. If your child tax credit is more than your tax liability, you may take the excess as additional child tax credit. To take this additional child tax credit, use Form 8812 to calculate the excess amount you can claim.