How much federal am i receiving for each dependent ?

azakiah30 — Wed, 24 Feb 2021 02:52:58 GMT

Re: How much federal am i receiving for each dependent ?

npierson7 — Wed, 24 Feb 2021 03:16:12 GMT

It depends. The child tax credit provides a credit of up to $2,000 per child under age 17. If the credit exceeds taxes owed, families may receive up to $1,400 per child as a refund. There is a $500 nonrefundable credit for qualifying dependents other than children. However, you not necessary will receive the whole amount of the credits. If depends on you income and you tax liability amounts.

You can use TurboTax child credit calculator here:

2020 Child Tax Credit Calculator and Top 7 Requirements

Re: How much federal am i receiving for each dependent ?

xmasbaby0 — Wed, 24 Feb 2021 03:21:29 GMT

Your refund is not broken down by how much you "get" for each dependent.

There are several child-related credits you *may* get if you have a dependent child and if you have income earned from working.The amount earned by working has a major effect on how much you receive for the child-related credits.

You might be getting the Child Tax Credit--that is not all a refund--it lowers the tax you owe, up to $2000 per child, but if you do not owe tax then you may not get the full amount of CTC. In some cases, you could qualify for the "Additional Child Tax Credit" which is a refundable credit, and would increase your refund. If you qualify for this credit, TurboTax calculates and automatically adds it to your refund.

You might be able to claim the child and dependent care credit if you paid someone to take care of your child so you could work. This is not a refundable credit, so it will not be in your refund. It can lower the tax you owe.

You might qualify for Earned Income Credit, which is a refundable credit if you worked and earned income. The EIC is based on the amount you earned. If you do qualify for EIC, TurboTax automatically calculates the amount and adds it to your refund.

Look at your 2020 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

Child and Dependent Care Credit line 31 (from line 13 of Schedule 3)

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

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

https://ttlc.intuit.com/questions/1900643-what-is-the-child-and-dependent-care-credit

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

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

https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-credit

topic How much federal am i receiving for each dependent ? in Get your taxes done using TurboTax

How much federal am i receiving for each dependent ?

Re: How much federal am i receiving for each dependent ?

Re: How much federal am i receiving for each dependent ?