There are a few reasons why you might not have received the full $1,700 Additional Child Tax Credit (ACTC) for each dependent, even if your annual income did not exceed $200,000:
Dependent Eligibility: Each qualifying child must meet specific criteria, such as being under 17 at the end of the tax year, living with you for more than half the year, and having a valid Social Security Number
If any of your dependents do not meet these criteria, you may not receive the full credit.
TurboTax Calculation: TurboTax uses the information you provide to calculate the ACTC. Ensure that all dependent information and income details are accurately entered
Go back to the MyInfo section and double-check all dependent information
Hello, both kids are under the age of 17, fully dependent, in our care 100% of the time, with valid social security numbers. I reevaluated all of the information I entered and it looks correct.
How much are you getting for the additional child Tax Credit?
The additional child tax credit is calculated based ONLY on earned income. You would subtract $2,500 from your earned income and multiple that by 15%. So if you earned $12,500 your credit would be limited to $1,500. Any income from social security, interest, dividends, or other unearned income would not be counted in the calculations to claim the ACTC.
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