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Deductions & credits
The Child Tax Credit is a refundable credit. That means you can only get up to the amount you owe in taxes for the credit.
However, there is an Additional Child Tax credit that is not refundable, and is located in a different area of your tax return.
You can preview your tax return by going to:
- On the menu bar on the left that shows.
- Select Tax Tools
- On the drop-down select Tools
- On the popup menu
- Select View Tax Summary
- On the left sidebar
- Select Preview my 1040.
- Schedules 1,2&3 are included if you scroll down past your 1040.
- To return to the entry screens press Back on the sidebar.
Some key numbers on your 1040 tax return are:
Line 19 -Child tax credit
Line 24 - Total Tax.
Line 28 - Additional Child tax credit
If you did not get the Additional Child Tax Credit, please see this IRS Article on Who Qualifies to confirm the rules for getting the credit.
Please contact us again with any questions, and provide some additional details.
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‎February 21, 2024
5:20 AM