Last year I received $4000 for my 2 minors and this year I only received $2500.
You'll need to sign in or create an account to connect with an expert.
the credit is $2000 for each child under 17 (let's keep this simple) and $500 once the child reaches 17.
did you have a child who turned 17 in 2020?
the new law does cover 17 years old at a higher rate, but that doesn't kick in until 2021
The size of your credit is based on how much you spend for child and dependent care, as well as your income. TurboTax guides you through the process of figuring your credit and fills in the proper form for you, but in general, it works like this:
-follow this link for additional information-
Are you asking about the Child Tax Credit, or the Child and Dependent Care Credit?
The Child Tax Credit as I never had any dependent care write-offs.
the credit is $2000 for each child under 17 (let's keep this simple) and $500 once the child reaches 17.
did you have a child who turned 17 in 2020?
the new law does cover 17 years old at a higher rate, but that doesn't kick in until 2021
Well that does it, one of my children did reach 17 in January of 2020. Thank you for that answer as I only saw if your child was under 18 you get the credit and not the caveat of reaching 17 we will steal 75% of your credit. Honestly nowadays dependents are living at home longer so the cutoff age should be increased just like the dependent medical insurance coverage age.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
amirahm2021
New Member
nessa1614
Level 1
bkisthetruth
New Member
stech
Level 4
lrobertsgandy
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.