topic Credits in Deductions & credits

Credits

2013toyotatacoma — Mon, 29 Mar 2021 17:38:12 GMT

I have two daughters, I just filed my 2020 taxes and was looking them over. For the child tax credit I am only receiving $396 of my $4000. Can anyone explain the reason why I would only receive less than 10% of the entire credit.

Re: Credits

Critter-3 — Mon, 29 Mar 2021 17:46:13 GMT

Look at the return carefully ... the CTC can only negate your federal tax liability and could be limited to that amount. HOWEVER for the 2020 return up to $1400 of the $2000 is refundable y using the ADDITIONAL CTC so look at the form 1040 line 28 and form 8812 to see the calculations.

Re: Credits

MinhT1 — Mon, 29 Mar 2021 17:50:12 GMT

Please read this Community answer by Champ Hal_Al on the possible reasons why you did not receive the full Child Tax credit.