Taxburnout
Level 2
11-29-2021
11:29 AM
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Also Step 2 phaseout for 2021:
The child tax credit won't begin to be reduced below $2000 per child until the taxpayers modified AGI exceeds:
$400,000 MFJ and $200,000 for all other filing statues.
The second phaseout reduces the Child Tax credit by $50 for each $1000 by which the taxpayer's modified AGI exceeds the income amounts above.