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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121180  
Subject: Re: Child tax credit question Date: 2/23/1999 11:29 AM
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[[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 Taxes
Roy

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