Tax Credit

Review line 13a of Form 1040 in 2019 for the Child Tax Credit of $2,000. This is a nonrefundable credit that can only reduce your tax liability to $0, although some taxpayers may qualify for the refundable portion of the credit on line 18b. In 2018, the Child Tax Credit was reported on line 12a.

The Child Tax Credit is available for each qualifying child under the age of 17. The Child Tax Credit is valued at $2,000 per qualifying child. However, in the tax year that a child turns 17, they no longer qualify for this credit and may, instead, qualify for the Credit for Other Dependents, which is valued at $500 per qualifying dependent. The Child Tax Credit itself may be nonrefundable first (reducing your tax liability dollar-for-dollar to the full amount of the credit or $0), with up to $1,400 refundable, which could increase the amount of your refund. The Credit for Other Dependents is nonrefundable only. 

Child Tax Credit

If it turns out you did not receive the credit and should have, you will need to amend your return. To amend, follow the steps below:

1. Log into your TurboTax account
2. Choose the tax year that you wish to amend
3. Click Amend
4. Make any necessary changes

Keep in mind that when you are amending, the refund tracker monitors the difference from your original filing to the amended return. It does not include any original refund or balance due. If you are claiming any previously unclaimed credits, you will see the difference as an additional refund amount.