- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
The Child Tax Credit is first used to help reduce your income tax liability. If all of the credit is used in that manner, then there will not be any additional child tax credit available to you.
To understand if all $3000 of the child tax credit was used to reduce your income tax liability, you need to take a look at Form 1040 line 18. That line shows the amount of income tax liability on your return. Then line 19 is the child tax credit, which is added to any amount reported on line 20. This total is subtracted from your income tax liability and the result is on line 22. If line 22 is anything greater than zero, then all of your child tax credit was used to offset some of your income tax.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 25, 2023
8:13 AM
426 Views