Question

I have already done what I was told to do to fix this problem once. Why must I repeat it?

Forum|Forum|5 years ago
January 25, 2021
1 reply
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TurboTax Free Edition Online

Employee

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A

ashinystarAuthor

Description of error:

There is a potential issue with the calculation of your Additional Child Tax Credit.

What needs to be done:

There is a known issue with the federal return that has been addressed in a software update. Please update your software to the latest version (online products update automatically after logging in). If your 2019 earned income is greater than you 2020 earned income, or if you did not have any earned income in 2020, electing to you use your 2019 earned income may result in a higher Additional Child Tax Credit for tax year2020. Please navigate to and review the "Child and Other Dependent Tax Credit" under the "Deductions and Credits" menu. Please select "Continue" until you see the question "Do you want to use last year's earned income?", and make your selection. You will need to re-transmit your tax return after completing a final review of your tax return. Earned income includes all income from employment, but only if it is includable in gross income. Examples of earned income are: wages; salaries; tips; and other taxable employee compensation. Earned income also includes net earnings from self-employment. Earned income does not include amounts such as pensions and annuities, welfare benefits, unemployment compensation, worker's compensation benefits, or social security benefits. Members of the military who receive excludable combat zone compensation may elect to include it in earned income. Note: The calculation change may affect the taxpayer's refund.