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Topic: Child Tax Credit Question  (Read 1142 times)

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Child Tax Credit Question
« on: May 20, 2015, 05:59:15 PM »
I'm so close to finishing my taxes I can taste it.

So far, my calculations are resulting in a refund due to the Child Tax Credit.  I was expecting the full $1000 for some reason, but it's coming out to $603, and as far as I can tell, this is due to having a low income (around $7000).

Does that sound right, or should I be able to get the full $1000?  I didn't owe any US taxes, so this is the additional child tax credit that gets refunded to me.

Thanks!




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Re: Child Tax Credit Question
« Reply #1 on: May 20, 2015, 09:46:28 PM »
Have you completed the 8965 this year? That might be your difference?


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Re: Child Tax Credit Question
« Reply #2 on: May 21, 2015, 09:25:49 AM »
Sounds like you're getting the correct number to me - the refundable/additional child tax credit is limited to 15% of earned income over $3000 (for people with 2 or fewer children).
« Last Edit: May 21, 2015, 09:27:18 AM by anrtaylor »


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Re: Child Tax Credit Question
« Reply #3 on: May 21, 2015, 10:27:40 AM »
Awesome, thanks for the help. That's how I understood it as well (the 15%) thing. 

Guya - I am indeed filing the 8965 this year, but how would that affect the schedule 8812? I don't see anything that pulls data from the 8965?

Thanks! :)




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