How much do you have to make to claim the child tax credit?

How to calculate child tax credit on line G on w4 form?

• Been a while, so I want to make sure I am understanding correctly. My status is Married filing jointly with 3 eligible dependents. Both spouse work, I have higher earnings. Line G says if total income less than 90,000 if married enter "2" for each eligible child. I get 3x2=6. It cont. to say then enter less than "1" if you have three to seven children. Are they stating subtract 1 from that which would have me claim 5 child tax credit or are they saying less 1child which would have me claiming 2x2= 4 child tax credit( as if I am only claim 2 of our children). I just want to make sure I have correct exemptions on line H. My spouse is claiming 0 Is it in our best interest to select married, but withhold at single rate? Thanks in advance

• Answer:

  They are saying if you have 3 to 7 children, the formula is (#kids x 2) -1 In your case it's (3 x 2) - 1 = 5 The next line is the formula for households with income over $90K but under $119K Regarding the fact that you are a dual income household, did you use the worksheet on page 2? Did your employer give you page 2? It's a worksheet for dual income taxpayers (either single person w/ 2 jobs or taxpayer & spouse both work). It also has a worksheet if you are planning on itemizing your deductions. http://www.irs.gov/pub/irs-pdf/fw4.pdf