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rebe292599
New Member

I have not yet filed taxes for 2020. I have $4000 in child tax credit, however my total refund amount is showing $900. Is it supposed to show the 4000 in refund amount?

I would like to know if I would still receive this amount even though not showing in total refund on turbo, or if it should show and I am doing something wrong.
2 Replies
xmasbaby0
Level 15

I have not yet filed taxes for 2020. I have $4000 in child tax credit, however my total refund amount is showing $900. Is it supposed to show the 4000 in refund amount?

duplicate question

**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

I have not yet filed taxes for 2020. I have $4000 in child tax credit, however my total refund amount is showing $900. Is it supposed to show the 4000 in refund amount?

Q.   Is it supposed to show the 4000 in refund amount?

A.  No. The Child Tax credit (CTC) rules will be different for 2021. But for all other years (including 2020), you do automatically get the full CTC amount ($2000 per child for 2020).  The child tax credit  (CTC) is  limited to your tax liability. The CTC is a non-refundable credit and can only reduce your income tax to 0, It can not help you beyond eliminating your tax liability. But, if you have more than $2500 of earned income, some or all of it is usually given back to you thru the "Additional Child tax credit". 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).

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