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April 10, 2021
Question

Child Tax Credit

  • April 10, 2021
  • 2 replies
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We have some questions about the child tax credit. We see $2500 total for 2 qualifying dependents under the age of 18.

Is this amount correct?

Thanks,

 

-Maceo & Rachel

    2 replies

    Employee
    April 10, 2021

    On a 2020 tax return you lose the child tax credit in the year that your child turns 17   (not 18).    If you have a child who was over the age of 16 at the end of 2020 you do not get the CTC for that child.   Instead you get the $500 credit for other dependents for the child.  The rules for the CTC will be different for your 2021 tax return.

     

    Look at your 2020 Form 1040 to see the child-related credits you received

    PREVIEW 1040
    https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

    Child Tax Credit line 19
    Credit for Other Dependents line 19
    Earned Income Credit line 27
    Additional Child Tax Credit line 28
    Child and Dependent Care Credit line 31 (from line 13 of Schedule 3)


    https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
    https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-for-other-dependents

    **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.**
    April 10, 2021

    It depends, generally the Child Tax Credit is $2,000 for children under age 17. If your child is 17 and older by the end of the year then he/she might qualify for the $500 other dependent credit instead of the Child Tax Credit.

     

    If both children are under 17 then please check line 28 for the additional child tax credit.

     

    Please see What is the Child Tax Credit? for additional information.

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