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Prelim calculation of my tax returns, I used a hypothetical ITIN/SSN for my kid (3XXX). When I updated with the actual ITIN (9XXX) the return dropped a lot. Any idea why?
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Prelim calculation of my tax returns, I used a hypothetical ITIN/SSN for my kid (3XXX). When I updated with the actual ITIN (9XXX) the return dropped a lot. Any idea why?
Certain child tax credits are only allowed with an SSN (citizen or permanent resident). ITINs and SSNs follow particular numbering patterns and TurboTax knows the difference.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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Prelim calculation of my tax returns, I used a hypothetical ITIN/SSN for my kid (3XXX). When I updated with the actual ITIN (9XXX) the return dropped a lot. Any idea why?
Certain child tax credits are only allowed with an SSN (citizen or permanent resident). ITINs and SSNs follow particular numbering patterns and TurboTax knows the difference.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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Prelim calculation of my tax returns, I used a hypothetical ITIN/SSN for my kid (3XXX). When I updated with the actual ITIN (9XXX) the return dropped a lot. Any idea why?
So, you are saying that if we use a number that starts with 3 turbo tax is doing one calculation, if we use a number starting with 9 the system does another? Is that correct? What are the differentiation? Which credits are considered for a SSN that is not considered for an ITIN?
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Prelim calculation of my tax returns, I used a hypothetical ITIN/SSN for my kid (3XXX). When I updated with the actual ITIN (9XXX) the return dropped a lot. Any idea why?
You cannot get the child tax credit unless the child has a SSN. If the child has an ITIN you get the $500 credit for other dependents instead of child tax credit.
**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.**
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Prelim calculation of my tax returns, I used a hypothetical ITIN/SSN for my kid (3XXX). When I updated with the actual ITIN (9XXX) the return dropped a lot. Any idea why?
Thanks. That's clarifies my doubt! Have a great day!
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