Where are you seeing $0?
For the Child Tax Credit? The Child Tax Credit and Additional Child Tax Credit rules have reverted back to what they were. The rules for 2021, where everyone got $2,000 for their child if their income was under a certain level, no longer applies.
This means, that for this year, the nonrefundable Child Tax Credit will lower your tax liability down to $0. So if your tax liability on line 18 is $0, you would not be eligible for the Child Tax Credit.
However, you may still be able to get the Additional Child Tax Credit. This will not be more than 15% of your Earned income minus $2,500. So, if your Earned Income is $10,000, your Additional Child Tax Credit would not be more than $1,125.
You can look at line 28 of your 1040 to see if you received the Additional Child Tax Credit.
To see your 1040 select the following:
- Tools
- Tax Tools
- View Tax Summary
- Preview My 1040
You should also check your dependents to be sure they all qualify for the Child Tax Credit. You can see this by looking at the Dependents section of your 1040 and seeing if there is a check mark by their name under the Child Tax Credit column.
If you do have a tax liability that is not being reduced and you should be getting the child tax credit then you will need to go back through the Personal Info section and double check your answers to be sure you answered everything correctly. As mentioned above, the most common error is not entering that the baby lived with you the whole year. But, any one of the personal info questions answered incorrectly could result in not getting the correct credits.
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