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January 31, 2021
Question

I became a first time father, I claimed my son all of last year and instead of getting the 2,000.00 credit for him for claiming him, it does not come out on my final federal tax refund ill be receivin

  • January 31, 2021
  • 1 reply
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Instead , im getting 546.00 instead of 2546.00 . Why would that be?

1 reply

January 31, 2021

 

To qualify for the Child Tax Credit, your son must fit all of these requirements:

  • Be under age 17 at the end of the tax year
  • Is your son, daughter, stepchild, foster child, adopted child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them (for example, a grandchild, niece, or nephew)
  • Has his or her own Social Security Number
  • Lived with you for more than half the year (if born in 2020 then say your child lived with you all year in TurboTax)
  • Didn't support him/herself (didn't pay more than half their own expenses)
  • Is a U.S. citizen, U.S. national, or U.S. resident alien
    • Residents of Canada or Mexico wouldn't qualify

If you determine your son meets all of these requirements, then please go back to the dependent section and review what you entered carefully.

 

Please follow these steps to add a dependent:

  1. Login to your TurboTax Account 
  2. Click "My Info" from the left side of your screen
  3. Scroll down to your son’s name and click “edit

 

 

Also be aware that up to $1,400 of the Child Tax Credit is refundable and is phased-in based on your earned income.  In most cases, you must have $2,500 or more of earned income to be eligible for any portion of the refundable Child Tax Credit.

 

The $2,000 per-child credit is reduced once your AGI reaches $200,000 (or $400,000 if you're filing jointly with your spouse).

 

If this doesn't solve your issue then you might want to contact TurboTax directly since we cannot see your return. Please see What is the TurboTax phone number?

 

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