Family Tax Credit Amounts for 2024
Various family tax credits and deductions, including the 2024 child tax credit have been adjusted for inflation. Here's what they're worth.


Claiming the child tax credit and other family tax credits and deductions can lower your tax liability or increase your refund. But which credits and deductions you qualify for can change from year to year. And the amounts of the credits and deductions can also change, since many are adjusted yearly for inflation.
So, while you might already know about the 2023 child tax credit and other family tax breaks for the previous year, here is what you can expect for the 2024 tax year (for income tax returns normally filed in early 2025).
Child tax credit for 2024
Lawmakers have reached a deal on the tax framework for a new child tax credit. However, unless changes to the amount of the credit go into effect for the previous tax year, the 2023 child tax credit is worth up to $2,000, and $1,600 of that amount is refundable. That's the number you'll use for the tax returns filed in 2024.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
For the 2024 tax year (returns you'll file in 2025), the refundable portion of the credit increases to $1,700. That means eligible taxpayers could receive an additional $100 per qualifying child back as a tax refund. (Note: Income limits apply.) And unless Congress makes legislative changes to the credit, the child tax credit will remain at up to $2,000 for 2024.
It should be noted that the IRS has strict guidelines for which dependents count as qualifying children. So keep in mind that all of the following must apply to qualify a child for the child tax credit:
- The child must be under age 17 at the end of the year.
- The child must be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild).
- Children cannot provide more than half of their own financial support during the year.
- Each child must have lived with you for more than half the year.
- You must claim the child as your dependent on your tax return.
- Dependents must not file a joint return with their spouse for the tax year (or file only to claim a refund of withheld income tax or estimated tax paid.)
- The child must have been a U.S. citizen, U.S. national or U.S. resident alien during the tax year.
It's also important to note that the expanded federal child tax credit expired last year. However, since then, several states, including Minnesota and New Mexico, have enacted expanded child tax credits of their own. Qualifying criteria for each state differ, so you may qualify for a federal child tax credit even if you aren't eligible for a state-level child tax credit.
Adoption tax credit 2024
The federal adoption tax credit was (for the 2023 tax year) worth up to $15,950 but this amount is also inflation-adjusted every year. However, income limits apply.
For 2024 (returns filed in 2025), if you incur adoption-related expenses, you can have a modified adjusted gross income (MAGI) of up to $252,150 and still qualify for the full credit. The amount of the credit is reduced for taxpayers with an MAGI of more than $252,150 and is eliminated when the MAGI reaches $292,150.
For 2024, the adoption tax credit is worth the amount of qualified adoption expenses, up to $16,810. The credit is nonrefundable, so the amount cannot exceed your tax liability. However, you may apply any excess credit amount to future years (up to five).
2024 Earned Income Tax Credit (EITC)
Another tax credit that can be important for individuals and families with lower and moderate incomes is the earned income tax credit (EITC). This is a refundable tax credit, which means you could receive the amount of the credit as a tax refund if you qualify.
For 2024, the credit is worth up to $7,830 (up from $7,430 for 2023) with three qualifying children, $6,960 (up from $6,604) with two qualifying children, $4,213 (up from $3,995) with one qualifying child, and $632 (up from $600) with no qualifying children.
Claiming the EITC requires that you have earned income (such as from wages, business income, investments, etc.). Additionally, your income cannot exceed the thresholds set for the 2024 tax year.
Here are the 2024 income phaseout amounts for claiming the EITC.
Filing Status | Number of Children | Phaseout Amount |
Married Filing Jointly | None | $17,250 |
Married Filing Jointly | One or More | $29,640 |
All Other Filing Statuses | None | $10,330 |
All Other Filing Statuses | One or More | $22,720 |
If your income is more than the amounts above, you may qualify for a reduced credit.
Below are the completed income phase-out amounts (not eligible to claim the credit) for claiming the EITC credit in 2024.
Filing Status | Number of Children | Completed Phaseout Amount |
Married Filing Jointly | None | $25,511 |
Married Filing Jointly | One | $56,004 |
Married Filing Jointly | Two | $62,688 |
Married Filing Jointly | Three or More | $66,819 |
All Other Filing Statuses | None | $18,591 |
All Other Filing Statuses | One | $49,084 |
All Other Filing Statuses | Two | $55,768 |
All Other Filing Statuses | Three or More | $59,899 |
(All other filing statuses also apply to married taxpayers who are not filing a joint return if they satisfy the special rules for separated spouses.)
Note: Typically, dependents must be under age 19 at the end of the year to qualify as a dependent to claim the EITC. However, the IRS considers dependents with disabilities qualifying children for the credit, regardless of their age.
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Katelyn has more than 6 years of experience working in tax and finance. While she specialized in tax content while working at Kiplinger from 2023 to 2024, Katelyn has also written for digital publications on topics including insurance, retirement, and financial planning and had financial advice commissioned by national print publications. She believes knowledge is the key to success and enjoys providing content that educates and informs.
-
How Many IRS Commissioners Have We Gone Through This Year?
IRS Who were the former commissioners, and why did they resign? Find out how IRS turnover can impact your taxes.
By Kate Schubel
-
Trump Dials Back Most Tariffs but Targets China
The Kiplinger Letter Wall Street hopes that higher tariffs on most countries are on hold for good. But the trade war between the U.S. and China is heating up.
By Jim Patterson
-
Which Generation Pays the Most Tax in the US?
Tax Burden Polls show that most people feel like taxes are unfair. But which age group bears the brunt of the tax burden in the United States?
By Kelley R. Taylor
-
Here’s How the Trump Harvard IRS Tax Threat Could Impact You
Tax Law Trump's latest higher education showdown raises fundamental questions that could reach beyond nonprofit tax status.
By Kelley R. Taylor
-
Tax Day 2025: Don’t Miss These Freebies, Food Deals and Discounts
Tax Day You can score some sweet deals on April 15 in some select restaurants like Burger King, Shake Shack, and more.
By Gabriella Cruz-Martínez
-
Tax Time: Does Your Kid Influencer Owe Taxes?
State Tax Some minors are making big money on social media. Here’s how to know if they need to file taxes.
By Gabriella Cruz-Martínez
-
Did Florida’s Chance at $1,000 in Property Tax Rebates Vanish?
State Taxes The Florida Legislature bypassed Gov. Ron DeSantis’ wish to cut property taxes and instead voted to lower the state’s sales tax.
By Gabriella Cruz-Martínez
-
How Caregivers for Adults Can Save on Taxes in 2025
Tax Breaks Caring for your parent or spouse can be stressful, but the IRS offers tax breaks for qualifying taxpayers. Here they are.
By Kate Schubel
-
New South Carolina Income Tax Cut Might Eat Your Cash
State Taxes South Carolina’s flat income tax bill could have the majority of residents paying higher income taxes. Find out how.
By Kate Schubel
-
Tax-Deductible Home Improvements for Retirement in 2025
Retirement Taxes Your aging-in-place plan could benefit from the medical expense tax deduction. But watch out for capital gains and property taxes.
By Kate Schubel