topic 2019 vs 2020 child tax credit in Deductions & credits

2019 vs 2020 child tax credit

shawr — Sat, 27 Mar 2021 17:12:04 GMT

Last year 2019, we had a child tax credit of $6,000, but this year 2020, it's only $1,500. We have 3 children. One did turn 17 in Nov 2020, so I understand this could take about up to $2,000 from the credit, but why reduction for the other 2 younger children? Our income is less than $400,000 (married, filing jointly) and has not changed much since last year.

Re: 2019 vs 2020 child tax credit

KathrynG3 — Sat, 27 Mar 2021 17:37:01 GMT

It appears they are all being treated as being eligible for the Family Tax Credit of $500.

You are correct, that only children under 17 will be eligible for the Child Tax Credit and Additional Child Tax Credit. You may need to check your input and verify that their birthdates are entered and that it is indicated that no one else can claim them.

To check the requirements, see: Child tax credit by the numbers | Internal Revenue Service

Child Tax Credit - TurboTax Tax Tips & Videos

Re: 2019 vs 2020 child tax credit

shawr — Sat, 27 Mar 2021 19:10:31 GMT

Thank you! It was the SSN not valid for employment question that threw me off.