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So I made over $2500 last year, have two kids and C am getting 161 for my CYC? WHY

Looked up qualifications.. I SHOULD qualify for the entire credit amount x2 Please help
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2 Replies
DawnC
Employee Tax Expert

So I made over $2500 last year, have two kids and C am getting 161 for my CYC? WHY

Are either of your children over 16 years old?   Go back through your dependent interviews; you may have answered something that is disqualifying you.   The child tax credit can appear on two lines on your tax return.   Add the amounts on lines 19 and 28.   And make sure your earned income is entered.    Which credit does my child qualify for?

 

Here are the requirements for claiming the $2k credit.  

 

To qualify, your child must meet all of these requirements:

 

  • Be under age 17 at the end of the tax year
  • Is your child, stepchild, foster child, adopted child, sibling, step sibling, half sibling, or a descendant of any of them (for example, a grandchild, niece, or nephew)
  • Has their own Social Security number
  • Lived with you for more than half the year
  • Didn't support themselves (didn't pay more than half their own expenses)
  • Is a U.S. citizen, U.S. national, or U.S. resident alien
    • Residents of Canada or Mexico don't qualify.
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So I made over $2500 last year, have two kids and C am getting 161 for my CYC? WHY

You say you "made over $2500."  You must earn at least $2500 to get the additional child tax credit, but earning just over $2500 does not mean you will get the full refundable amount of up to $1700 per child.  It is based on the amount OVER $2500 that you earned.

 

 Take the amount you earned from working.   Subtract $2500 from that.   Take what is left and multiply by 15%  That is the additional child tax credit per child you get that will end up on line 28 of your Form 1040.

 

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/child-tax-credit/L2lNhfGDl_US_e...

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6x...

https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-f...

 

 

And for the Earned Income Credit—-

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/qualifications-ea...

 

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

https://www.irs.gov/pub/irs-pdf/p596.pdf

 

Look at your 2024 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/preview-turbotax-online-retur...

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

 

**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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