Families With Children

Finn Kevin11 May, 2022Finance

The increased credit amount ($1,000 or $1,600) phases out by $50 for each $1,000 of modified AGI above: $150,000 Married Filing Jointly, Qualifying Widow(er). $112,500 Head of Household. $75,000 Single or Married Filing Separately. Adjusted Gross Income (AGI) Phaseout The $2,000 credit is reduced by $50 for each $1,000 of modified AGI above: $400,000 Married Filing Jointly. $200,000 Single, Head of Household, Qualifying Widow(er), or Married Filing Separately.