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Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

 
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6 Replies

Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

What age was your child at the end of 2021? The child must be under age 18 at year end to qualify for $3000. See this TurboTax article for a detailed explanation and credit calculator: https://turbotax.intuit.com/tax-tips/family/7-requirements-for-the-child-tax-credit/L3wpfbpwQ#2021-c...

 

 

Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

16

Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

It sounds like you may have entered the child as an other dependent rather than a child. Other dependents age 18 or older would qualify for a $500 credit. Make sure the birth date is entered correctly. Go back through the dependent section and make sure you answered all the questions correctly. You may want to start by deleting the child and then re-entering the child. Here are the requirements to claim a child as a dependent:

1. The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them.
2. The child must be (a) under age 19 at the end of the year, (b) under age 24 at the end of the year and a full-time student, or (c) any age and permanently and totally disabled.
3. The child must have lived with you for more than half of the year. Temporary absences while away at college are considered living with you.
4. The child must not have provided more than half of his or her own support for the year.
5. If the child meets the rules to be a qualifying child of more than one person, you must be the person entitled to claim the child as a qualifying child.
6. The child must be a U.S. citizen or U.S., Canada or Mexico resident for some portion of the year.
7. The child must be younger than you (or your spouse, if filing jointly) unless disabled.

Remsam
New Member

Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

Uncheck the box that says "Not valid for employment" under your dependent's info where you enter the SSN of your child.  That might work.

KrisD15
Expert Alumni

Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

Please enter the Social Security information the way it is listed on the card. 

If the box (Not valid for employment) is checked, also check that box on the TurboTax entry screen. 

 

@Remsam

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Mjt7
New Member

Why am I only getting $500 child tax credit instead of $3,000? wife and I combined made $117,000.

Hello,

 

I noticed an error when going through the dependent set up for 2021 tax year. The check box and SOC number is presented after the graphics showing your child qualifies as a dependent. On most inputs the graphics indicate the end of data collection. 

this should be corrected and the graphics should be placed at the very end. 

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