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Get your taxes done using TurboTax
If you need further explanation----a NON-refundable credit can reduce the tax you owe. You do not get it as a refund. A refundable credit can be added to your income tax refund. The $2000 child tax credit is non-refundable and is used first to reduce any tax you owe. If your tax owed is down to zero, then the amount ""left" from that $2000 is the refundable additional child tax credit----up to $1600. The EITC -- earned income tax credit--is also a refundable credit and is added to your refund.
Your Form 1040 shows your refund on line 35a.
**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.**
‎July 9, 2024
2:34 PM