IRS Schedule 3 covers nonrefundable credits such as the foreign tax credit and the credit for child and dependent care expenses, estimated tax payments and payments made with filing extensions, and the premium tax credit.
It's not a form that you would have received along with tax documents you need to complete your tax return. The Schedule 3 attaches to your return and is files with Form 1040.
Schedule 3 Line 12e is new. Under the CARES Act, employers may defer the deposit and payment of the employer's portion of Social Security taxes. Here are the steps to preview of your Schedule 3 with your specific credits listed:
- Log into TurboTax Online
- On the left-hand side of your return, click Tax Tools
- Click Tools
- On the window that pops up, click View Tax Summary
- On the left-hand side of your screen, click Preview My 1040
- Scroll down to Schedule 3. The amounts of the items you qualify for will be listed here.
If line 12e looks wrong or is missing information, type Schedule 3 in the search box above, and Jump to Schedule 3. You can also access the form through the Deductions and Credits section in TurboTax. Check to see if any answers might have been partially answered. The software may be waiting for more information before it can complete Schedule 3 for you.
