With the new child tax credit at $2000 why on the tax caster do I only see a $2000 difference when I have 5 children? Shouldn't it be $5000 higher than 2017?

[Reckhout]

On my 2017 tax return I received about $9500 and the TaxCaster says in 2018 I will receive about $11700. Shouldn't it be about $14500?

[SteamTrain]

well, there's other changes too...but the biggest issue is that for you, only $1400 is refundable.  You only get to use the full 2000 if you have enough income to actually use up the full 2000 to pay taxes owed.   And if any child reaches age 17 (or over) during 2018, then that 2000 doesn't exist for that child...drops to $500, but I haven't checked to see if it's "refundable".


https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

[xosweetie87xo]

Mine shows one amount when i enter my info and when i compare it the breakdown is the same numbers as 2017 laws but then if i close out and reopen it i get a 6000 bigger difference. Which one is gonna b the right estimate to go by

[SteamTrain]

,,,don't know what exactly you are actually doing....or exactly which software you are testing it on...(the 2017 software's What-IF worksheet is most accurate and actually works)
...........................but stick to your other question...tagging on here is not useful to anyone

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