[[I know the benefits of the child tax credit start phasing out at an AGI of $110,000 for married filing jointly taxpayers in tax year 1998.]]Basically correct. But because of the complicated computations that you must make if you have more than one child, the "phase out" range really moves up with each additional child. You can read more about how to make the phase out computations in my post on the child tax credit in the Taxes FAQ area.[[ Does anyone out there know if the AGI threshold will increase each year, and if so, by how much?]]I don't THINK that these amounts are indexed for inflation. But I'm dealing with 1998 tax issues, and am not really concerned too much about the 1999 issues. If they ARE indexed for inflation, the increase will be very, very small for 1999. But again, I don't believe that they are. Ask me this question after April 15th and I'll be glad to do some research for you.TMF TaxesRoyWant to learn more about taxes and investing? Then we have a deal for you!! The Motley Fool Investment Tax Guide is now available through Fool Mart. Be the first one on your block to own this masterpiece. It'll help you with your 1998 taxes, and it's never to early to start planning for your 1999 taxes. So just click on this link (http://www.foolmart.com/market/product.asp?pfid=MF+013+I) to read more about this amazing collection of tax information. (Apologies for the shameless plug…but it is a pretty good book…if I do say so myself). In addition, if you would like to visit the Taxes FAQ (Frequently Asked Questions) area, click on http://www.fool.com/school/taxes/taxes.htm and you'll be right at the home page. Check it out. Finally, if you need to get to the IRS web site, click on http://www.irs.ustreas.gov to go directly there.
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