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acer1983s
New Member

Do I qualify for the ACTC with two qualifying children that are worth $2,000 and then on top of that as I believe we are supposed to see an additional 1600 per child?

when finishing up my taxes we got the $2,000 per child is all what happened to the additional ACTC 1600 per child?
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2 Replies

Do I qualify for the ACTC with two qualifying children that are worth $2,000 and then on top of that as I believe we are supposed to see an additional 1600 per child?

You misunderstood how the CTC works.  It is not $2000 per child + another $1600 per child.

 

The total per child is $2000.   First the $2000 is used to reduce your tax owed down to zero.  When (if) your tax owed is zero, the "rest" of the $2000 can be added to your refund as the Additional Child Tax Credit----up to a maximum of $1600 per child.  But....that Additional Child Tax Credit also depends on how much you earned by working.  

 

Take the amount you earned, subtract $2500, and multiply what is left by 15%.  That is your additional child tax credit ---- up to a maximum of $1600 per child.

 

 

Look at your 2023 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
acer1983s
New Member

Do I qualify for the ACTC with two qualifying children that are worth $2,000 and then on top of that as I believe we are supposed to see an additional 1600 per child?

thanks for clearing it up for me I held off on submitting my taxes because I was going to submit them before this additional child tax credit became past so I figured there would be more money coming back but when I finished my taxes after going back through them the number didn't change so I thought I had screwed something up but in the end what they determined was that I get the full credit amount on each child worth 2,000 per child.

 

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