And.....the refundable credits are based on how much you earned from working, so if you earned more in 2022 or less in 2022 than you earned in 2023, the amounts of child-related credits will be different.
For the child tax credit---which you get for children younger than 17--
The total per child is $2000. First the $2000 is used to reduce your tax owed down to zero. When (if) your tax owed is zero, the "rest" of the $2000 can be added to your refund as the Additional Child Tax Credit----up to a maximum of $1600 per child. But....that Additional Child Tax Credit also depends on how much you earned by working.
Take the amount you earned, subtract $2500, and multiply what is left by 15%. That is your additional child tax credit ---- up to a maximum of $1600 per child.
Earned income credit is calculated on a bell curve-- so it varies according to how much you earned.
https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant
Look at your 2023 Form 1040 to see the child-related credits you received
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
Child Tax Credit line 19
Credit for Other Dependents line 19
Earned Income Credit line 27
Additional Child Tax Credit line 28
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
