Self employment tax questions

[Texasmomma2023]

I filed last year with my 2 year old. I don’t think I filed correctly. I saw this and don’t think I got the child tax credit. I’m self employed and made under 10,000.00 last year in reselling thrift items. Any ideas why I didn’t get the credit for my child? Did I do it wrong how do I correct it? 

[BrittanyS]

The child tax credit could have been removed or reduced based on your tax owed.  For 2024, the child tax credit is considered nonrefundable.  This means if the child tax credit exceeds the tax owed, the amount that exceeds the tax is lost.  

There are other options for Additional Child Tax Credit's for the unused balance:

• Up to $1,700 per qualifying child in 2024 and 2025 is refundable with the Additional Child Tax Credit.
• You can find out if you're eligible for this refundable credit by completing the worksheet in IRS Form 8812.

See the link below for more information:

• Child Tax Credit