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General Discussion => Post-FIRE => Topic started by: Sweet freedom on December 24, 2017, 08:58:57 AM

Title: Child Tax Credit Question
Post by: Sweet freedom on December 24, 2017, 08:58:57 AM

FI'ed a few years ago, wondering if we will be able to claim the newly increased 2018 child tax credit against our military pension, rental, dividend or interest income. (Note: no job, no self employment income). We meet all the other criteria (income limits, 2 kids under age 10).  Thank you in advance!

Title: Re: Child Tax Credit Question
Post by: 4tun81 on January 08, 2018, 06:41:54 PM

Did you get it last year? If yes, I'd say yes. It's an increase, other than that I see no changes as to who qualifies.

Title: Re: Child Tax Credit Question
Post by: MDM on January 08, 2018, 07:36:08 PM

Earned income is not needed for the non-refundable portion.

Earned income is needed for the refundable portion.

It's not clear exactly how the new law will be implemented, but see the case study spreadsheet (http://forum.mrmoneymustache.com/forum-information-faqs/case-study-spreadsheet-updates/) if you'd like one estimate.