Question

Credits

Forum|Forum|5 years ago
March 11, 2021
1 reply
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I complete and paid for turbo tax but have not filed it yet. Upon review I noticed a error that needs to be fixed but I can't fix. I have 2 dependent children but on line 19 for the tax credit it is $0 and should be $4000. Schedule 8812 was used for additional tax credit when it should not have been. How does Turbo Tax fix before I file?

CatinaT1

You must have tax liability for the credit to be applied to.  If you do not, you may qualify for the Additional Child Tax Credit.

The child tax credit (CTC) along with the additional child tax credit (ACTC) may both be on your tax return. The ACTC is a refundable credit, while the CTC is allowed to reduce your tax to zero but any balance is not refundable. 

Check line 28, Form 1040, to see if you have the ACTC or refundable portion listed. This may show the other portion and you should also see Form 8812 in your tax file.

By using the Tax Tools you can take a quick review of your 1040:

To find Tools: 
- Sign into your TurboTax account and open or continue your return. 
- Select Tax Tools in the left menu. 
- You'll find Tools beneath Tax Tools.
- Select View Tax Summary
- Select Preview My 1040 (left black panel)