Skip to main content
May 3, 2021
Question

WHEN USING YOUR SYSTEM DIDNT SHOW ME MY CHILD TAX CREDIT I HAVE 2 CHILDREN IN 2020 ONE IS 12 YO AND OTHER 17 YO HOW CAN I GET THE CREDIT AND HOW MUCH IT IS FOR EACH ONE

  • May 3, 2021
  • 1 reply
  • 0 views
No text available

1 reply

Critter-3
May 3, 2021

Once you enter qualifying children the appropriate credits are automatically added to the return ... the 17 year old is worth up to $500 and the 12 yo is worth up to $2000.

 

 

The Child Tax Credit is a non-refundable credit. This means that if your tax liability has already been reduced to 0, then you will not further benefit from this credit. 

It is also reduced by other non-refundable credits you may be receiving (such as the Child and Dependent Care Credit)

The Additional Child Tax Credit is a refundable credit (up to $1,400) and can be refunded to you even if your tax liability has been reduced to 0. 

 

If you'd like to see how this works on your Form 1040, follow the instructions below: 

1.) On the left-hand side of your screen, click Tax Tools

2.) Click Tools

3.) On the window that pops up, click View Tax Summary

4.) On the left-hand side of your screen, click Preview My 1040. 

 

Your Child Tax Credit will be on line 12a. If the amount that is on line 12 equals what is on line 11, then your tax liability is 0 and this is why you did not receive the child tax credit. 

If you have an amount on line 17b, this means that you received the Additional Child Tax Credit.