George and Martha are married and file a joint tax return claiming their two children,ages 10 and 8 as dependents.Assuming their AGI is $123,450,George and Martha's child tax credit is:

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For 2023, the child tax credit is $2,000 per qualifying child. However, the credit begins to phase out at an AGI of $400,000 for married couples filing jointly. Since George and Martha's AGI is $123,450, they are eligible for the full credit of $2,000 per child, totaling $4,000 for two children.

George and Martha Are Married and File a Joint Tax