You'll need to sign in or create an account to connect with an expert.
The $1,400 is the *additional child tax credit* that is a maximum of $1,400 regardless of how many children. You only get the ACTC if you do not qualify for the $2,000 credit per child. If you are only getting $1,200 then your earned income is probably not high enough for more.
=====
For the child tax credit of $2,000 per child.
The child must have been no older than 16 at the end of 2019.
The amount of child tax credit you can receive is limited by your taxable income (1040 line 10)
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 12a on the 1040 form. Additional Child tax credit on line 17b on the 1040 form.
CHILD TAX CREDIT
There was lots of hype in the news about the new $2000 Child Tax Credit when the tax law changed for 2018 and beyond. Unfortunately, some people do not yet understand that it does not mean they will automatically receive $2000 per child just for filing a tax return.
Do not assume your refund will include $2000 per child for child tax credits. It does not work that way. The CTC is used first to reduce your tax liability to zero. After that, there is a refundable portion —up to $1400 — called the Additional Child Tax Credit that is calculated based on the amount of income you earned. You do not necessarily get the maximum amount. You get 15% of the amount of income earned above $2500--UP to the maximum amount possible.
If your child turned 17 in 2019, even on the last day of 2019, you do not get the child tax credit. There are no exceptions to the rule. You can still claim your child as a dependent.
Your child must have a Social Security number to get the CTC.
If your child was born in 2019 you need to say the child lived with you for the WHOLE year.
If your child lived with you for less than half the year you cannot get CTC.
If you did not earn at least $2500 you cannot receive the child tax credit. Beyond that amount the CTC you receive is affected by your tax liability and the amount you earned. You might not get the full $2000 of CTC.
The child tax credit is reduced by $50 for every $1000 of AGI over these limits:
Married filing jointly $400,000 (CTC disappears at $440,000)
Single, Head of Household, Married Filing Separately or qualifying widower $200,000 (CTC disappears at $240,000)
Look at your 2019 tax return to see the credits you received:
Child tax credit line 12a
Additional Child Tax Credit line 17b (schedule 8812)
Credit for Other Dependents line 12a
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
https://ttlc.intuit.com/questions/3029430-why-is-my-child-tax-credit-smaller-this-year
I came looking for the same answer, seems you answered it in the beginning that it's irrespective of number of children, not per child:
"The $1,400 is the *additional child tax credit* that is a maximum of $1,400 regardless of how many children."
Thanks
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
harmanamanda
New Member
lancemanly
New Member
green-flowers-tx
New Member
ccominio
New Member
macdaddy100111
Level 1