topic How do i know how much i get back for my kids? Do you get money for kids or no? This my first time doing my taxes by myself in Deductions & credits

How do i know how much i get back for my kids? Do you get money for kids or no? This my first time doing my taxes by myself

kekebaby97 — Mon, 03 Jun 2019 18:49:20 GMT

First of all--have you entered your income? Child-relate...

xmasbaby0 — Mon, 03 Jun 2019 18:49:22 GMT

First of all--have you entered your income? Child-related credits are affected by how much you earned by working.

Your refund is not broken down by how much you "get" for each dependent. Each dependent gives you a personal exemption of $4050, which lowers the amount of your income that you are taxed on. It is not a refund.

There are several child-related credits you *may* get if you have a dependent child.

You might be getting the Child Tax Credit--that is not a refund--it lowers the tax you owe, up to $1000 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 your taxable income.

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 tax return to see the child-related /dependent credits you received:

Child Tax Credit 1040A line 35 1040 line 49

Additional Child Tax Credit 1040A line 43 1040 line 67

Child & Dependent Care Credit 1040A line 31 1040 line 49

Earned Income Credit 1040A line 42a 1040 line 66a

The children you listed as your dependents will appear on line 6c

I haven't entered all my w2s yet so could that be the rea...

kekebaby97 — Mon, 03 Jun 2019 18:49:25 GMT

I haven't entered all my w2s yet so could that be the reason ?

Of course that is the reason you are not seeing a refund....

xmasbaby0 — Mon, 03 Jun 2019 18:49:26 GMT

Of course that is the reason you are not seeing a refund. You do not get a refund without entering income.
Your employer(s) have until January 31 to provide your W-2's, so wait until you have all W-2's to put on your tax return.

And once that happens I'll be able to get a clear estimat...

kekebaby97 — Mon, 03 Jun 2019 18:49:27 GMT

And once that happens I'll be able to get a clear estimate of how much i get for my two kids ?

I'm so sorry this is my first time filling out the forms...

kekebaby97 — Mon, 03 Jun 2019 18:49:30 GMT

I'm so sorry this is my first time filling out the forms on my own and it's confusing sort of