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bslycord
New Member

Did I get full credit for child credit

W2 income 3017 unemployment was 3451 and 585 from 401k cash out claimed 2 children single headhoushold no other forms or taxes just like last year and my federal was only 1500 and state 289 I had thought it was 1k per child in my previous year I received full credit because i got 9k federal back but I worked all of 2015 so not sure if it's correct i worked Wal-Mart 2 months and then unemployment 4 months and I cashed out my 585 401k money because I no longer worked Wal-Mart I did claim 3 children last year so maybe that made a difference but other friends filed this year with turbo tax and didn't get nearly as much back despite claiming at least 2 children so wondering if something changed for 2017 or what can't find answer online google
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1 Reply

Did I get full credit for child credit

The child tax credit can only reduce your tax liability down to zero.  It is not a refund.  If you have no tax due, then you may not receive the full amount of the $1000 Child Tax Credit.

You can only get Earned income credit for the income you received from working, but the amounts you received from unemployment  and your 401k count towards your total adjusted gross income.

When you enter your dependents and your income into your tax return, TT automatically calculates the child tax credit, additional child tax credit, and includes EIC if you qualify for it. So if you qualified for EIC it is already showing in your refund. If you do not understand the amount of EIC you are receiving, please look at the chart for EIC—look for the number of children you claimed and your income, and you will see how much EIC you are supposed to be getting.  

There is a table that starts on page 30 of IRS publication 596 regarding EIC and the amount you can receive for your earned income:

www.irs.gov/pub/irs-pdf/p596.pdf

The amount of EIC you are receiving can be seen on your tax return:

1040EZ on line 8a

on 1040A line 42a

on 1040 line 66a


**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.**

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