Colorado Child Tax Credit

There have been changes this year in Colorado.   Starting in tax year 2024, the Colorado CTC It is no longer based on the Federal CTC.   You can get a tax credit for children under the age of 17 now.   

For tax year 2024, the Colorado CTC also includes the new Family Affordability Tax Credit, which has different requirements from the regular Colorado child tax credit.

• For the regular Colorado child tax credit, the child must be under age 6 at the end of 2024 (born in 2019 or later), and your Adjusted Gross Income (AGI) must be $75,000 or less ($85,000 if filing jointly).
• For the new Family Affordability Tax Credit, the child must be under age 17 at the end of 2024 (born in 2008 or later), and your Adjusted Gross Income (AGI) must be $85,000 or less ($95,000 if filing jointly).

Make sure you received the full federal child tax credit to ensure you have entered all of the required information on the dependent interview screens.    To verify you are getting the correct federal credit, preview your Form 1040 and look at the dependents section.   You should have checkmarks in Box 4.    If not, go back through the dependent interviews for each child.   The questions are based off these requirements.   

Your Colorado return will use the same answers to qualify you for the CO tax credits, but you need to step through the state interviews also.    Form 104CN in your CO tax return will show how your state child tax credits were calculated.     Section B has the Regular Child tax credit and Section C has the Family Affordability tax credit.  

For more information, see the following resources:

• CTC & EITC Frequently Asked Questions(opens in new window)
• Income Tax Topics: Child Tax Credit(opens in new window)
• Income Tax Topics: Family Affordability Tax Credit(opens in new window)

Colorado Family Credit Assistant