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Level 2
posted Mar 16, 2024 8:54:00 AM

The child tax credit is $2000 per child. I have two kids, then why is Turbotax showing "The $2,000 Child Tax Credit and $500 Credit for Other Dependents"?

I have a 2-year-old U.S. citizen child having a social security number and a 5-year-old foreign national child having ITIN.

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1 Best answer
Level 15
Mar 16, 2024 8:57:28 AM

A child who does not have a Social Security number is not eligible for the child tax credit.  If the child has an ITIN, you get the $500 credit for other dependents for that child.

3 Replies
Level 15
Mar 16, 2024 8:57:28 AM

A child who does not have a Social Security number is not eligible for the child tax credit.  If the child has an ITIN, you get the $500 credit for other dependents for that child.

Level 15
Mar 16, 2024 8:59:27 AM

To be eligible for the Child Tax Credit the child must have a Social Security number.  If the child does not have a SSN but some other identification such as an ITIN the child is only eligible for the Other Dependent credit of $500.

Go to this IRS website for the Schedule 8812, Credits for Qualifying Children and Other Dependents instructions on page 1 - https://www.irs.gov/pub/irs-pdf/i1040s8.pdf

Expert Alumni
Mar 16, 2024 9:01:38 AM

The maximum amount of the (CTC) is $2,000, and the maximum refundable additional Child Tax Credit is $1,600. To be eligible for the CTC, you must have at least $2,500 of income from working.  The credit is calculated based on the amount you earned above $2,500. Your modified adjust gross income has to be under $400,000 for Married Filing Jointly or Qualified Widower and $200,000 for all other filing statuses.  If you have children that are older than 16 at the end of 2023 or they have an ITIN, they don't qualify you to get the CTC, but you may still be eligible to get the   $500 non-refundable credit for Other Dependents instead.

 

In addition to the requirements listed above, you child must meet the following eligibility requirements to qualify for the Child Tax Credit.

  • Be under 17 by 12/31/2023
  • Be related to you (child, stepchild, foster or adopted child, sibling, or descendant of any of them)
  • Have a Social Security Number
  • Lived with you for more than half of the year
  • Didn't provide for more than half of their expenses
  • Be a U.S. citizen, U.S. national, or U.S. resident alien.

 

For more information, refer to the TurboTax Help articles: 2023 and 2024 Child Tax Credit: Top 7 Requirements, What is the Child Tax Credit?, and What is the Additional Child Tax Credit?

 

@ajinkya_bankar