topic My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this? in Get your taxes done using TurboTax

My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this?

darianbird1-gmai — Mon, 08 Mar 2021 00:37:49 GMT

Re: My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this?

xmasbaby0 — Mon, 08 Mar 2021 00:42:16 GMT

The child tax credit increase is not yet in effect so it is not $3000. Did you enter a Social Security number for your child? Did you say the child lived with you for at least 7months in 2020?

Re: My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this?

SweetieJean — Mon, 08 Mar 2021 00:45:26 GMT

The CTC for 2020 is still $2000. The bill under consideration in Congress would raise it for tax year 2021 (returns filed in 2022).

The Child Tax Credit can only reduce your tax bill to zero — you don’t get any unused portion of the credit back as a refund. However, you may be able to claim the Additional Child Tax Credit, which allows you to receive up to $1,400 of the $2,000 Child Tax Credit per child as a refund. TT handles this automatically if you qualify.

CTC appears on Form 1040, Line 19.

ACTC appears on Form 1040, Line 28.

2020 Form 1040 (irs.gov)

Re: My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this?

darianbird1-gmai — Mon, 08 Mar 2021 00:55:08 GMT

My apologies, the $2000. He was born in November, do I not qualify for the $2000 tax credit? I've read everywhere that as long as a child was born in that year, I would qualify.

Re: My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this?

darianbird1-gmai — Mon, 08 Mar 2021 00:56:03 GMT

I did enter his social security. He was born in November 2020. I was under the impression that any child born in 2020 would have us qualified.

Re: My child, whom I am claiming, is under 17 years old. However, I am only getting $500 in child tax credit and it should be $3000. Why is this?

Critter-3 — Mon, 08 Mar 2021 00:59:20 GMT

Ok ... you made the error on this screen where is tells you to select the whole year ... go back and fix this screen ...