I have 4 kids, 2 under 6. The 8812 worksheet calculates a differnt value than what Turbo Tax entered on form 8812!
Schedule 8812 line 1 and 3 is $126,538. 4a is 4, 4b is 2, 4c is 2. But 5 is an ERROR at $13,200.
The correct number should be $12,000.
Here's why:
The 8812 worksheet says for line
1. 8812 4b x $3600 = $7,200
2. 8812 4c x $3,000 = $6,000
3. (1) + (2) = $13,200
4. 8812 4a x $2,000 = $8,000
5. (3) - (4) = $5,200.
6. Enter an amount (married filing jointly = $12,500). = $12,500.
7. smaller of line 5 or 6 = $5,200
8. Enter amount for filing status ($150,000)
9. Subtract 8 from 3, round up = $24,000
10. Mulitply 9 by .05 = $1,200
11. Enter smaller 7 or 10 = $5,200
12. Subtract line 11 from line 3 (this should be line 5 on sch 8812) = $12,000
