350167
I qualify for the 2000 child tax credit but for some reason Turbo tax is allocating the smaller additional child tax credit. How do I override?
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Not everyone is eligible for the full Child Tax Credit or the full Additional Child Tax Credit.
If you look at line 11 of your 1040, your Child Tax Credit cannot exceed that number. So, if your tax liability is only $1,000, that is the maximum Child Tax Credit you will be eligible for. If it is zero, then you would not get any child tax credit. This is a non-refundable Credits and will only reduce your tax liability to zero.
The Additional Child Tax Credit is refundable. The refundable portion is approximately 15% of your Earned income along with a few other calculations.
https://www.irs.gov/publications/p972
Overriding anything in TurboTax is generally NOT a good idea. If you do override, you will need to print and mail your return as it will not allow you to e-file. But to override do the following:
Prior to overriding, please look at pub 972 (link above) to verify that you are not changing numbers that should not be changed.
Not everyone is eligible for the full Child Tax Credit or the full Additional Child Tax Credit.
If you look at line 11 of your 1040, your Child Tax Credit cannot exceed that number. So, if your tax liability is only $1,000, that is the maximum Child Tax Credit you will be eligible for. If it is zero, then you would not get any child tax credit. This is a non-refundable Credits and will only reduce your tax liability to zero.
The Additional Child Tax Credit is refundable. The refundable portion is approximately 15% of your Earned income along with a few other calculations.
https://www.irs.gov/publications/p972
Overriding anything in TurboTax is generally NOT a good idea. If you do override, you will need to print and mail your return as it will not allow you to e-file. But to override do the following:
Prior to overriding, please look at pub 972 (link above) to verify that you are not changing numbers that should not be changed.
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