should the lower or higher income parent claim the CTC?
I searched and couldn't find the answer to this specific question.
So my partner and I had a child in May of 2022. She makes ~27k/yr and I make ~50k/yr. We both have simple tax returns. No 401k or Ira contributions, no student loan debt payments etc. Just childcare costs.
With this information, who would get more money back by claiming our child? We both live together and usually file single (I can file HoH if needed because I pay more for bills).
We both also had no dependents or withholdings on our w4s at the beginning of this year.
Posted Jan 4, 2023, 6:20 PM UTC
37