Line 28 on Form 1040

[emciverolo92]

How is line 24 on form 1040 calculated?  My wife and I received $2,000 for our 2 kids per letter 6419 (2 letters, $1,000 each).  So I'm assuming the calculation is $4,000 minus the $2,000 from letters 6419.  My question is, where does the $4,000 number come from?

[KrisD15 · Accepted solution]

That would be the amount of the credit reduced because of income. 

That is calculated on Schedule 8812 which is included with your tax forms. 

According to the IRS:

A4. The Child Tax Credit begins to be reduced to $2,000 per child if your modified AGI in 2021 exceeds:

$150,000 if married and filing a joint return or if filing as a qualifying widow or widower;
$112,500 if filing as head of household; or
$75,000 if you are a single filer or are married and filing a separate return.
The first phaseout reduces the Child Tax Credit by $50 for each $1,000 (or fraction thereof) by which your modified AGI exceeds the income threshold described above that is applicable to you.

IRS Link