- 8 - by which the taxpayer’s earned income exceeds $10,500. Sec. 24(d)(1)(A) and (B), (3); Rev. Proc. 2002-70, sec. 3.04, 2002-2 C.B. 845, 847. The refundable and nonrefundable portions of the child tax credit cannot exceed the total allowable amount of the credit. Since petitioners are not allowed dependency exemption deductions with respect to the children from Mr. Gibson’s former marriage, they are not qualifying children. Therefore, petitioners are not entitled to claim child tax credits with respect to those children. Moreover, petitioners are not entitled to claim additional child tax credits because they did not qualify for child tax credits. To reflect the foregoing, Decision will be entered for respondent.Page: Previous 1 2 3 4 5 6 7 8 9
Last modified: May 25, 2011