Hi,
I am wondering how the Child Tax Credit for 2022 will work if:
my only earned income is on a 1099 NEC and ~$10,000
I'm filing HOH
My dependents are 9 and 11
A related question would be, under the same circumstances, how would the Child Tax Credit work for 2020 and 2021. I have not yet filed 2021 as my 2020 is still getting sorted out, and I am also wondering what to expect with what I should have / should expect to receive with these.
When I completed my 2020 on paper (planning to e-file 2022), I didn't get any indication as to if, how, or where I should expect to receive any CTC funds for 2020 (I filed HOH with same dependents. I also receive SSDI and had some earned income on 1099 NEC). I've yet to hear anything about the CTC for that year or receive anything for it.
Thank you!
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For 2022 the Child Tax Credit you can get up to $2,000 for each child under age 17. But only up to $1,500 will be refundable, depending on your income. You must have earned income of at least $2,500 to be eligible for the refund (which you did with your self-employment income). Please see What is the Child Tax Credit? for additional information.
For 2021 the Child Tax Credit was fully refundable and applied to qualifying children who have not attained age 18 by the end of 2021 (Pub 17, page 107:(
For 2020 the Child Tax Credit you can get up to $2,000 for each child under age 17. But only up to $1,400 will be refundable, depending on your income. You must have earned income of at least $2,500 to be eligible for the refund (which you did with your self-employment income).IRS
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