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Deductions & credits
You probably did not have enough income from working to get the refundable additional child tax credit --which is based on how much you earned from working. The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1600. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1600 per child. If the amount you earned was too low, you will not get the full $1600.
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July 31, 2024
10:17 AM