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Deductions & credits
. The Child Tax Credit, available only for a child 16 or under at the end of the tax year, is a non-refundable credit that can be used only to offset tax. You get only enough child tax credit to reduce your tax to zero, up to a maximum of $1,000 per child. If your other deductions and credits have reduced your tax to zero when the child tax credit is calculated, you do not get any child tax credit. However, if you don't get the full Child Tax Credit, and you have at least $3,000 in earned income, you may qualify for the Additional Child Tax Credit which is a refundable credit. Turbotax automatically determines whether you qualify for the ACTC and calculates the amount for you
‎June 6, 2019
2:01 AM