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Income went down in 2020 and so did child tax credit?
Whether I pick the 2020 or 2019 income option, our child tax credit went from $2500 (2019) to $1000 (2020).
Income was $246,00 (2019) and $226,000 (2020) MFJ.
I cannot see that the child tax credit changed at all and am wondering if I am missing something?
I realize we don't get the whole thing but don't understand why it would be larger with more 2019 income.
One is 17 and qualifies the other was 19/20 the past two tax years.
Searching for any kind of credit since we qualify for almost nothing with SALT limits and no checks either (not complaining but tax burden keeps going up).
thanks,
iCarol
March 15, 2021
8:50 PM