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Child tax credit only showing 718 for four children. in ms it is spose to be 2,000 per child what is wrong

 
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Accepted Solutions
pk
Level 15
Level 15

Child tax credit only showing 718 for four children. in ms it is spose to be 2,000 per child what is wrong

Note that child tax credit is "non-refundable" credit -- meaning no matter amount claimed only an amount upto your tax liability  can be used .  Thus if the total available to you is say $4000 and your tax liability before applying credit is $1800 then ONLY $1800 of the available  is used to reduce your tax liability to ZERO, then rest is lost.  Depending on your AGI, you may be eligible for a portion of the unused as additional child tax cerdit which is a refundable credit, meaning it  increases your refund.   Need more details to be specific.

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3 Replies
pk
Level 15
Level 15

Child tax credit only showing 718 for four children. in ms it is spose to be 2,000 per child what is wrong

Note that child tax credit is "non-refundable" credit -- meaning no matter amount claimed only an amount upto your tax liability  can be used .  Thus if the total available to you is say $4000 and your tax liability before applying credit is $1800 then ONLY $1800 of the available  is used to reduce your tax liability to ZERO, then rest is lost.  Depending on your AGI, you may be eligible for a portion of the unused as additional child tax cerdit which is a refundable credit, meaning it  increases your refund.   Need more details to be specific.

Child tax credit only showing 718 for four children. in ms it is spose to be 2,000 per child what is wrong

this has nothing to do with my queatioin
pk
Level 15
Level 15

Child tax credit only showing 718 for four children. in ms it is spose to be 2,000 per child what is wrong

Please provide more details  (a) age of the children, (b) did you claim as dependents (c) Your AGI ,  (d) your filing status and (e) your taxable income
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