WHY DOES TURBOTAX SHOW $2K vs. THE $3K per child 6-17 yr $3,600 per child under 6 All working families will get the full credit if they make up to $150,000 for a couple

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MinhT1

Alumni - Intuit

The increased Child Tax credits only applied for tax year 2021.

They have reverted to the previous limits in 2022 and later years. $2,000 per child under age 17.

Please read this TurboTax article for more information.

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DoninGA

Level 15

The increase child tax credit was valid for Only one tax year, 2021.

After tax year 2021 the child tax credit reverted back to the previous amount of $2,000 for a child under the age of 17.

Hal_Al

Level 15

Q. WHY DOES TURBOTAX SHOW $2K vs. THE $3K per child 6-17 yr and $3,600 per child under 6?

A. Because $2000 is the correct amount.

$2000 being the correct amount, is technically $2000 is the maximum amount. It could be, and frequently is, less.

The child tax credit (CTC) is limited to your tax liability. The CTC is a non-refundable credit and can only reduce your income tax to 0, It can not help you beyond eliminating your tax liability. But, if you have more than $2500 of earned income, some or all of it is usually given back to you thru the "Additional Child tax credit". That is, part of the CTC may be on line 28 of form 1040 (2021- 2023) instead of line 19. The ACTC is calculated on form 8812 and is basically 15% of your earned income over