Why is my child tax credit lower this year; or am I missing another credit?

[taxed-out-american]

our 2016 life/tax situation is 99.9% identical to our 2015 return; just the income is slightly different; why the $2464 reduction in fed credits? [pulled numbers from TT calculation on 2016 return]

• 2015
• married filing jointly
• Dependents 2

Total Income $52,677

Taxes withheld $1,636

Federal deductions and exemptions $28,711

Federal credits  $4,464

......................................................

• 2016

• married filing jointly

• Dependents 2

Total Income $52,983

Taxes withheld $1,502

Federal deductions and exemptions $30,245

Federal credits $2,000 [per TT calculation with no explanation]

[MiriamF · Accepted solution]

It sounds like the only credit that you are getting this year is the Child Tax Credit.

To answer this question, you will need to compare the two tax returns in more detail. Print out a copy of your 1040A or 1040 from 2015, and open the Forms Mode for TurboTax Desktop 2016. If you are using TurboTax Online, follow these instructions:

https://ttlc.intuit.com/replies/3302322

Look at the following sections of your 1040A:

• Lines 31-34
• Lines 42-45

The comparable lines on Form 1040 are:

• Lines 48-54
• Lines 66-69

When you compare the two returns in detail, you should be able to figure out which credits are missing, and whether this is a mistake or accurate based upon your tax situation.