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Your income is too low. The child
tax credit (CTC) is limited to your
tax liability. The CTC is a non-refundable credit and can only reduce your
income tax to 0, It can not help you beyond eliminating your tax liability.
But, if you have more than $3000 of earned income, some or all of it is usually
given back to you thru the "Additional Child tax credit". That is,
part of the CTC may be on line 43
of form 1040A instead of line 35 (lines 67 & 52 of form 1040). In the on-line version of TT, the main Form
1040, 1040A or 1040EZ can be seen through Tools, View Tax Summary, Preview My
1040 or go to Print Center and then
choose to Preview. The
ACTC is calculated on form 8812; that form is not viewable in the online
version of TT until you have paid for your return. But, the ACTC is basically
15% of your earned income over $3000.
So, for example, if you have $6670 of earned income, your ACTC will be $561 [(6740 - 3000) x 0.15 = $561].
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