Did your income increase?
If so, did it increase to over $200,000 (or $400,000 if married filing jointly) If so, then you would not be able to claim the credit as your income would be over the income limit to claim the full credit.
Did your income decrease?
The nonrefundable Child Tax Credit will lower your tax liability down to $0. So you must have a tax liability in order to claim it. If you did not have at least a $4,000 tax liability, you would not be eligible for the entire credit, but you could be eligible for the Additional Child Tax Credit.
After that, if you did not use it all up, you may still be able to get the Additional Child Tax Credit. This will not be more than 15% of your Earned income minus $2,500. So, if your Earned Income is $10,000, your Additional Child Tax Credit would not be more than $1,125. There is also a maximum limit on the Additional Child Tax Credit of $1,700 per child.
You can look at line 28 of your 1040 to see if you received the Additional Child Tax Credit.
To see your 1040 select the following:
- Tools
- Tax Tools
- View Tax Summary
- Preview My 1040
You should also check your dependents to be sure they all qualify for the Child Tax Credit. You can see this by looking at the Dependents section of your 1040 and seeing if there is a check mark by their name under the Child Tax Credit column.
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