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Ignore the refund meter, at the top of your screen, and wait til you get finished. Then look at your form 1040. If there is less than $2000 on line 19 (CTC), the rest will be on line 28 (ACTC). But, at $104K income, there will usually be $2000 on line 19.
If you are eligible it will be included in your federal tax refund. You only need to complete your tax return.
The Additional Child Tax Credit will be on your Form 1040 Line 28
So, the credit will not show up when I am doing my taxes on TurboTax?
@paulinabaker95 wrote:
So, the credit will not show up when I am doing my taxes on TurboTax?
It will be shown to you in the My Info section of the program after you have completed entry of your dependents. It will indicate you are eligible for the child tax credit if you entered the dependent child correctly. Although, it also depends on your Adjusted Gross Income and your filing status, so you need to complete the income and deductions sections.
I am head of household with income of $104,000. It only says that I qualify for the Child Tax Credit but it doesn't say anything about the refundable additional child tax credit.
If you have enough tax liability to get the full $2000 of child tax credit, then there is no additional child tax credit in addition to the $2000 of child tax credit.
I previously had $94 in tax liability that was covered by the $2,000 credit. I am trying to make sure I didn't miss a section.
$94 tax on 104,000 income? I don't think so. What's on 1040 line 18? The Child Tax Credit reduces line18. The 2,000 was probably all used up so there's no extra to get back.
Yes, that is what it said after it imported my w-2.
What what said? Your tax due or refund? That is not your tax liability. You need to look at line 18.
It was my tax due
The 2,000 credit got used up on line 19 so there's nothing left for the additional amount.
Ignore the refund meter, at the top of your screen, and wait til you get finished. Then look at your form 1040. If there is less than $2000 on line 19 (CTC), the rest will be on line 28 (ACTC). But, at $104K income, there will usually be $2000 on line 19.
Thank you!
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