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New Member
posted Mar 26, 2021 10:29:18 AM

Why a child tax credit does not show on itemized deductions

what will be included into itemized deductions

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2 Replies
Level 15
Mar 26, 2021 10:35:05 AM

A child tax CREDIT will never show up on the Sch A for itemized DEDUCTIONS. 

 

What can be confusing is that the TT program has a category for Deductions & Credits  but not everything in that section is a deduction on the Sch A. 

Level 15
Mar 26, 2021 10:40:22 AM

It's not on SCH A because the child tax credit is a "credit", not a deduction.

Deduction - reduces the amount of income you pay taxes on.

Credit - Reduces the taxes you pay, dollar for dollar.