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Using 2019 AGI to apply the 'look back provision' via TurboTax for Child Tax Credit

Our AGI in 2019 qualifies us for Child Tax Credit while AGI in 2020 doesn't. Can we get Child Tax Credit using 2019 AGI? If yes, how can we do it via TurboTax? Thanks.

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3 Replies

Using 2019 AGI to apply the 'look back provision' via TurboTax for Child Tax Credit

There is a “lookback” option that allows you to use your 2019 amounts for earned income credit or child tax credit.   You can choose whether to use your 2019 amount or your 2020 amount.  Choose whichever amount gives you a better tax refund for your 2020 refund.

 

You can see this and choose in the earned income credit section  in Deductions and Credits.

 

You still MUST enter all of your 2020 income into your 2020 tax return, including any unemployment you received.

 

Using 2019 AGI to apply the 'look back provision' via TurboTax for Child Tax Credit

I don't see the option for me to use 2019 AGI amount. When I click on "Child and Dependent Care Credit" or "Child and Other Dependent Tax Credit" in turbo tax home & business version, it shows "It turns out you don't qualify for these credits". How can I find this option? Also I have already filed my 2020 tax return. What's the best way to correct it?
 

Using 2019 AGI to apply the 'look back provision' via TurboTax for Child Tax Credit

There is no provision to use 2019 AGI.

 

If your 2019 "Earned Income" was LESS than 2020's "Earned Income", you have the option to use 2019's "Earned Income" for purposes of those credits.  But that does not apply to AGI.

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