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laneyj19
New Member

Why am I only getting a little over a grand when I worked and have a daughter that I claim? when you're supposed to get 1500 back for the dependant alone?

 
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Hal_Al
Level 15

Why am I only getting a little over a grand when I worked and have a daughter that I claim? when you're supposed to get 1500 back for the dependant alone?

There is no $1500 "back for the dependant". There's a $500 dependent credit  or a $2000 child tax credit, but both of those are conditional. It is more accurate to call it an UP TO $2000 credit.

The money you hear about people getting for just filing a tax return claiming kids requires you to  have some earned income (wages or self employment). Without earned income, you are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit.

 There is no fixed amount per child. Your refundable credits are calculated based on the amount of your earned income. It consists of two parts: The Earned income Credit (EIC) is looked up in this table https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf

The "Additional" Child Tax Credit is calculated on form 8812, but is basically 15% of your earned income over $2500, up to $1400. https://www.irs.gov/pub/irs-pdf/f1040s8.pdf   

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1 Reply
Hal_Al
Level 15

Why am I only getting a little over a grand when I worked and have a daughter that I claim? when you're supposed to get 1500 back for the dependant alone?

There is no $1500 "back for the dependant". There's a $500 dependent credit  or a $2000 child tax credit, but both of those are conditional. It is more accurate to call it an UP TO $2000 credit.

The money you hear about people getting for just filing a tax return claiming kids requires you to  have some earned income (wages or self employment). Without earned income, you are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit.

 There is no fixed amount per child. Your refundable credits are calculated based on the amount of your earned income. It consists of two parts: The Earned income Credit (EIC) is looked up in this table https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf

The "Additional" Child Tax Credit is calculated on form 8812, but is basically 15% of your earned income over $2500, up to $1400. https://www.irs.gov/pub/irs-pdf/f1040s8.pdf   

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