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M
mackinnonii
January 28, 2023
Question

Why am I only getting a $500.00 credit for my dependent minor child?

  • January 28, 2023
  • 1 reply
  • 0 views
No text available

1 reply

M
Mike9241
January 28, 2023

we can't see your return but the following is a likely possibility. the child tax credit rules changed substantially for 2022. The nonrefundable portion is limited to your tax liability. The refundable portion is the smaller of 1) the amount of the child tax credit remaining after reducing your tax liability to zero or 2) 15% of your earned income in excess of $2,500. See schedule 8812.

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