xmasbaby0
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Deductions & credits

Have you entered income from working in 2024?  If not,  you will not receive an income tax refund based on having dependent children.

 

  The maximum amount of the child tax credit is now $2000 per child; the refundable “additional child tax credit” amount is $1700.   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 $1700 per child. If the amount you earned was too low, you will not get the full $1700.

 

 If your child is older than 16 at the end of 2024, you do not get the CTC.  But you may still get the non-refundable $500 credit for other dependents instead.

 

 

https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6x...

https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-f...

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

 

 

Look at your 2024 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

 

 

AND….If you have children but had  little or no income, it raises the question of how you and the children were supported.  There may be another tax-paying adult who can claim you and/or the children as dependents.  

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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