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mary11
New Member

Just completed tax return. Gross income is $77k and taxes owed are $5,225. Why is Turbo Tax only giving us $500 for the child tax credit, when it should be $2,000?

 
3 Replies
KarenJ
Intuit Alumni

Just completed tax return. Gross income is $77k and taxes owed are $5,225. Why is Turbo Tax only giving us $500 for the child tax credit, when it should be $2,000?

Due to the tax changes for 2018, the requirements for the child tax credit changed.  Please see below for more information.

https://ttlc.intuit.com/replies/3301702

mary11
New Member

Just completed tax return. Gross income is $77k and taxes owed are $5,225. Why is Turbo Tax only giving us $500 for the child tax credit, when it should be $2,000?

AGI is under $200k.  This is a baby, a US Citizen, born in July 2018.  Lived in household entire year, received 100% support from household.  Has a social security number.  Is there anyway to override how TurboTax is calculating this, because it is calculating it incorrectly, although all of this personal information was entered.
mary11
New Member

Just completed tax return. Gross income is $77k and taxes owed are $5,225. Why is Turbo Tax only giving us $500 for the child tax credit, when it should be $2,000?

I figured it out.  When entering how long the child lived with you, you must say THE WHOLE YEAR, even if they were not born on Jan 1.
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