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Old 02-09-2019, 02:05 PM
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Default pg 141 Of Tom Copeland's Tax Workbook

Says the child tax credit phases out under 2017 levels but it has been increased for 2018.
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Old 02-09-2019, 04:40 PM
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Default Child tax credit

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Originally Posted by Daycarefamily View Post
Says the child tax credit phases out under 2017 levels but it has been increased for 2018.
Both are true. If you make more than $110,000 married filing jointly, the $2000 tax credit will be reduced by $50 for every $1,000 of income above this amount.
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Old 02-09-2019, 04:58 PM
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So the 2017 phaseouts do apply in 2018!! There is alot of bad information online. Some online sites are saying that 2018 phaseouts are $400k for married filing jointly. Thanks you for the clarification!
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Old 02-09-2019, 09:25 PM
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Default child care tax credit

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So the 2017 phaseouts do apply in 2018!! There is alot of bad information online. Some online sites are saying that 2018 phaseouts are $400k for married filing jointly. Thanks you for the clarification!
Actually, now that I looked at this closer I was wrong! The credit for 2018 starts to phaseout out at $400,000 for married filing jointly and $200,000 for single. So, you were right! I got it wrong in my book. Sorry.
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Old 02-10-2019, 09:40 AM
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So then it is $400k. Thank you for clearing that up.
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