Patricia is single and her son Quinn is age 11.If her AGI is $77,000,what amount of child tax credit can she claim?

Question

Quizplus · Accepted Answer

The child tax credit for 2023 is $2,000 per qualifying child. However, it begins to phase out at an AGI of $75,000 for single filers. For every $1,000 over the threshold, the credit is reduced by $50. Patricia's AGI is $2,000 over the threshold, so the credit is reduced by $100, resulting in a $1,900 credit.

Patricia Is Single and Her Son Quinn Is Age 11