I just checked the status of our child tax payment and the irs website said "not eligible". We definitely qualify, so I just looked at my tax return and noticed an "x" on the "Credit for other dependents" instead of "Child tax credit". I tried to amend our return online and spoke with a turbotax rep that said we didn't qualify for the child tax credit bc of EIC? That doesn't seem correct. My husband and I made well under the $150k married filing jointly requirement. Anyone else having this issue? I thought maybe I didn't click the right box when filing, but when I go back to amend, I am not seeing an option to change to the child tax credit for my dependent.
A common error is answering YES to the support question. It does not ask if YOU supported him, it is asking if the child supported himself so the answer must be NO.
Then you should totally delete the dependent and re-enter to reset everything. Be sure to say the child lived with you "the whole year" and reenter the date of birth.
You only amend if you already filed and it was accepted.
Whether you are filing the original tax return or have file and are amending and started the amend process, then deleting and re-entering a dependent is the same.
For the child tax credit of $2,000 per child.
The child must have been no older than 16 at the end of 2020.
The amount of child tax credit you can receive is limited by your taxable income (1040 line 15)
If your taxable income is zero, then you are not eligible for any child tax credit.
However, if you do not qualify for the Child Tax Credit, and if your earned income is greater than $2,500, you might be eligible for the Additional Child Tax credit. That amount is 15% of earned income greater then $2,500 up to a maximum of $1,400.
Too high of an income will reduce or eliminate the CTC also.
Married Filing Joint - $400,000
Single, Head of Household, or Married Filing Separate-- $200,000
The child tax credit will be reported on lone 19 on the 1040 form. Additional Child tax credit on line 28 on the 1040 form.