Not everyone is eligible for the
full Child Tax Credit or the full Additional Child Tax Credit.
If you look at line 11 of your
1040, your total Child Tax Credit cannot exceed that number. So, if your tax
liability is only $1,000, that is the maximum Child Tax Credit you will be
eligible for. If it would have been zero, then you would not get any
child tax credit. This is a non-refundable Credits and will only reduce
your tax liability to zero. The Child Tax Credit is shown on line 12a
of your 1040.
The Additional Child Tax Credit
is refundable if you qualify for it. The refundable portion is approximately
15% of your Earned income along with a few other calculations. If you did
receive it, you will find it on line 17 of your 1040.
To see your 1040 click
Tools>>.Tax Tools>>>View Tax Summary>>>Preview My
1040.
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