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messpac
New Member

It says I got the child tax credit of $1000 why is it not added to my federal refund amount?

 
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HelenaC
New Member

It says I got the child tax credit of $1000 why is it not added to my federal refund amount?

The Child Tax Credit is worth $1,000 but that does not mean you get a refund of $1,000. The Child Tax Credit reduces your taxes. It is not a refundable credit like the Earned Income Credit (EIC).

If your taxes are $507, TurboTax uses part of the $1,000 Child Tax Credit, to pay the $507 so you get what is left, the $493. For additional information, see  What is the Child Tax Credit?

NoteIf you have other credits, TurboTax will take a portion of each of those credits and split them among the tax owed. 

You may qualify for the Additional Child Tax Credit. If you do, TurboTax will calculate it. See  What is the Additional Child Tax Credit?

If your income is too high, the Child Tax Credit is also reduced. 

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1 Reply
HelenaC
New Member

It says I got the child tax credit of $1000 why is it not added to my federal refund amount?

The Child Tax Credit is worth $1,000 but that does not mean you get a refund of $1,000. The Child Tax Credit reduces your taxes. It is not a refundable credit like the Earned Income Credit (EIC).

If your taxes are $507, TurboTax uses part of the $1,000 Child Tax Credit, to pay the $507 so you get what is left, the $493. For additional information, see  What is the Child Tax Credit?

NoteIf you have other credits, TurboTax will take a portion of each of those credits and split them among the tax owed. 

You may qualify for the Additional Child Tax Credit. If you do, TurboTax will calculate it. See  What is the Additional Child Tax Credit?

If your income is too high, the Child Tax Credit is also reduced. 

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