The National Directory of Certified Public Accountants

Ask A CPA - Child Care Expenses

Child Tax Credit - Partially Limited - Carry Forward Or Lost

Any unused Child Tax Credit cannot be carried forward to future years. The credit begins its phase-out at Adjusted Gross Income of $110,000 for married taxpayers filing joint returns. For single taxpayers or those filing as head of household the threshold is $75,000. For married filing separate returns the threshold is $55,000.

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