In the 5-year Tax History Report, can you tell me what the "Total Credits" line is for?

[IHaveABigQuestion]

In the 5-year Tax History Report, can you tell me what the "Total Credits" line is for? I have amounts there the last 4 years but nothing this year. I just want to know exactly what that correlates to in case I have forgotten to do something.

 

[DMarkM1]

The total credits line in the 5-year tax history should be non-refundable credits.  It should come from schedule 3 line 8 or line 20 on your forms 1040.     

[IHaveABigQuestion]

Thank you. I don't have a schedule 3 this year (I guess that explains why there is no amount there) but I am still not sure why I have had an amount the last 4 years and not this year. I looked up last years and I did, but the amount is no where near as big the amount listed on my 5 year tax summary. Could it also come from another line other than the ones you mentioned?

[ThomasM125 · Accepted solution]

You could have a child tax credit listed on line 19 of your form 1040. Also, an earned income credit on line 27(a), also a refundable child tax credit on line 28, American opportunity credit on line 29, and a recovery rebate credit on line 30. 

[IHaveABigQuestion]

Yes, it is the child tax credit because that amount lines up each of the last 4 years. However I definitely still got the child tax credit this year, but the 5-year tax history report has it blank for this year. Is it possible the Tax History report is just incorrectly leaving the 2021 amount blank, like a glitch? 

[JulieS · Accepted solution]

The Total credits line refers to your total of nonrefundable credits from line 8 on Schedule 3. 

Child Tax is refundable this year, so it goes directly to line 28 of your 1040 and is not included on Schedule 3 as it was in the past. 

So basically Child Tax Credit moved to a new line and the Tax History looks odd because of that.