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Child tax credit

The IRS only gave us the credit for 2 of our 4 kids. They did the same thing with our stimulus. We also had a child in 2020 and didn't receive that  stimulus reimbursement. Should I amend it? 

 

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2 Replies

Child tax credit

You have not mentioned the ages of your children.   Under 2020 tax law you can only get the child tax credit or stimulus money for children who were younger than 17 at the end of 2020.    Did any of your children turn 17 in 2020?   If so you do not get CTC or stimulus for that child.   And...the child must have a Social Security number.

 

As for a child born in 2020---you should have entered the child as a dependent on your 2020 tax return and used the recovery rebate credit to get the stimulus money for that child.  If you did not do that then you can amend to get the RCC for your baby.

 

Children born in 2020 were not included in the 1st stimulus because those checks were based on 2018 or 2019. No one got stimulus money for babies born in 2020 because the IRS did not know about those babies or have their SSN’s. But on your 2020 tax return you can claim your child born in 2020 for the stimulus money, as well as the other child-related credits.  You enter your new dependent in My Info.  When you go through the screens in My Info make sure to say your child lived with you the WHOLE year.  When it asks the oddly worded question about whether your child paid for over half their own support say NO.

 

  

The stimulus check is an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”)  If you are eligible it will end up on line 30 of your 2020 Form 1040.

 

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

 

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...

 

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

 

 

 

Do NOT amend until your original return has been FULLY processed.

 

Select your tax year for amending instructions:

 

 

     What does it mean to "amend" a return?

·         Do I Need to Amend my Tax Return?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Child tax credit

Any rebate that you were entitled to based on the ages and numbers of your dependence was automatically calculated by TurboTax and was added to your tax return unless you took an affirmative step to remove it. Therefore, simply amending your return will not get you any additional money unless you change the facts about your dependence and can do some thing that would make them qualify when they did not qualify before.

 

in other words, you only got a rebate credit for two dependents because you only listed two qualifying dependents, or you receive credit for four dependents and you didn’t realize it. Start by checking line 30 of your form 1040.

 

The rebate, which is the equivalent of the round one and round two stimulus payments, is $500 per qualifying child in round one and $600 per qualifying child in round two, but a qualifying child must be your child dependent who has a Social Security number and is age 16 or less.

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