Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jcrader3
New Member

First time doing my own taxes. Looking into the requirements for the Additional Child Tax Credit and it seems like we would receive it. Why would we not? Its showing 0.

Income range between 70,000-90,000. All kids are dependents.
3 Replies
xmasbaby0
Level 15

First time doing my own taxes. Looking into the requirements for the Additional Child Tax Credit and it seems like we would receive it. Why would we not? Its showing 0.

Have you entered their Social Security numbers?   How old are your children?   You only get the CTC for children who were younger than 17 at the end of 2020---so if any of them are over 16 you cannot get CTC for them.  If you have a child who was born in 2020 make sure you say the child lived with you the whole year

Look at your 2020 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

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

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

Child and Dependent Care Credit line 31 (from line 13 of Schedule 3)

 

 

https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit

https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-f...

**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.**
Hal_Al
Level 15

First time doing my own taxes. Looking into the requirements for the Additional Child Tax Credit and it seems like we would receive it. Why would we not? Its showing 0.

 The additional child tax credit (ACTC) is not a separate credit from the child tax credit (CTC).  It is a refundable amount you get if your tax liability was so low that  you did not get the full $2000 (per child) CTC.   That is, part of the CTC may be on line 28 of form 1040 (2020 version) instead of line 19 (lines 18b and 13a in 2019).   The  ACTC is calculated on form 8812 and  is basically 15% of your earned income over $2500. The ACTC is a maximum of $1400 per child (not $2000).  At $70-90K, you, most likely already got the full $2000 per child.

 

"First time doing MY own taxes. Looking into the requirements for the Additional Child Tax Credit and it seems like WE would receive it". Does "WE"  mean your filing Married filing jointly or just mean you and your kids. 

SweetieJean
Level 15

First time doing my own taxes. Looking into the requirements for the Additional Child Tax Credit and it seems like we would receive it. Why would we not? Its showing 0.

Did someone else prepare your taxes for you in prior years?

Dynamic AdsDynamic Ads
Privacy Settings
v