- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
Still have questions?
Make a post
Or browse the Forums