If you are asking about your child tax credit if the amount is $512, then it is likely you only had $512 in tax liability. The child tax credit is a non-refundable credit. This means, you can only g...
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If you are asking about your child tax credit if the amount is $512, then it is likely you only had $512 in tax liability. The child tax credit is a non-refundable credit. This means, you can only get as much as you owe in taxes. Once your balance is $0, you can't claim more than that. However, if it is possible then to get the Additional Child Tax Credit which is refundable. If this amount was only $512, it is because your income limited the credit. This credit is calculated by taking your earned income and subtracting $2,500 then multiplying it by 15%. The credit is then limited to the lower of that number or $1,700 which is the maximum amount for the additional child tax credit. What is the Additional Child Tax Credit?