ThomasM125
Expert Alumni

Deductions & credits

There are several requirements to get the full child tax credit, but often it is limited because your income is too low. When this happens, your income tax may be less than the $2,000 maximum child tax credit amount allowed per child. In this circumstance, the credit cannot be more than your income tax.  

 

You can view your income tax amount by clicking on the "Tax Tools" option on your left menu bar while working on your tax return. Then choose "Tools" and "View Tax Summary." Look for "Tentative Tax" and see if that amount is less than your anticipated child tax credit, in which case your child tax credit will be limited to your tentative tax amount.

 

Also, please keep in mind that you are not entitled to the full $2,000 credit if your child is over the age of 16. In this case, you are only entitled to a credit of up to $500 per child. The child tax credit will also be reduced if your income is over $200,000 ($400,000 if you are filing a joint tax return) for tax returns filed in 2019.

 

Although you may not be entitled to the full child tax credit amount, you may be eligible for an "additional child tax credit" of up to $1,400. If this applies to you, you would see it on the tax summary screen in TurboTax as part of the "Total Credits" entry. Also, it would be listed on your tax return on line 18(b).   You can learn more about the child credit from this IRS article:  https://turbotax.intuit.com/tax-tips/family/7-requirements-for-the-child-tax-credit/L3wpfbpwQ

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