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Deductions & credits
@burrowsandrea17 wrote:
I was told I had to file because I received the advanced ctc last year so I was going through the motions and it was on there so I just leave it blank then and don't report any of that?
Well, it won't do any harm to include it, but it won't give you a tax benefit.
You are correct that if you got the ACTC you need to file. You may receive additional credit if you claim your children. However, if your boyfriend claims any children as dependents instead of you, he will get a new full amount CTC and you won't have to repay the ACTC you got if your income is less than $30,000. (This assumes that any children are also the biological children of the BF. If they are not his children, he can't claim them.). When you file, you can list your deductible expenses including mortgage and property taxes, but they won't actually reduce your tax unless your total itemized deductions are more than $12,500 and your total income is more than $30,000.