2022-2024 Form

The Child Tax Credit (CTC) is worth up to $2,000 per qualifying child (tax year 2023). If you owe less tax than the total of your CTC, you can use Schedule 8812 to claim up to $1,500 as a refundable credit through the Additional Child Tax Credit. What is the IRS Form 8812? - TurboTax Tax Tips & Videos - Intuit intuit.com https://turbotax.intuit.com › tax-tips › family › what-is-th... intuit.com https://turbotax.intuit.com › tax-tips › family › what-is-th...

The Child Tax Credit (CTC) is worth up to $2,000 per qualifying child (tax year 2023). If you owe less tax than the total of your CTC, you can use Schedule 8812 to claim up to $1,500 as a refundable credit through the Additional Child Tax Credit.

The Child Tax Credit is a $2,000-per-child tax benefit claimed by filing Form 1040 and attaching Schedule 8812 to the return. To qualify for the credit, the taxpayer's dependent must generally be under the age of 17 and must have a Social Security number. Child Tax Credit Definition: How It Works and How to Claim It investopedia.com https://.investopedia.com › terms › childtaxcredit investopedia.com https://.investopedia.com › terms › childtaxcredit

Age: Your child must have been under the age of 17 at the end of 2023. Relationship: The child you're claiming must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister or a descendant of any of those people (e.g., a grandchild, niece or nephew).

To claim the Additional Child Tax Credit, you need to complete Schedule 8812 and attach it to your Form 1040 or Form 1040-SR. But don't worry about memorizing all of the rules and limitations for claiming this credit.

For 2023, the Additional Child Tax Credit will refund eligible taxpayers up to $1,600. For 2024, it's $1,700. To determine whether you're eligible for the Additional Child Tax Credit, you can fill out Schedule 8812 along with your Form 1040. Additional Child Tax Credit (ACTC): Definition and Who ... Investopedia https://.investopedia.com › ... › Tax Credits Investopedia https://.investopedia.com › ... › Tax Credits

The Child Tax Credit is up to $2,000. The Credit for Other Dependents is worth up to $500. The IRS defines a dependent as a qualifying child (under age 19 or under 24 if a full-time student, or any age if permanently and totally disabled) or a qualifying relative.

If the amount on line 12 is more than the amount on line 14, you may be able to take the additional child tax credit on Form 1040, 1040-SR, or 1040-NR, line 28. Complete your Form 1040, 1040-SR, or 1040-NR through line 27 (also complete Schedule 3, line 11) before completing Part II-A. 2023 Schedule 8812 (Form 1040) - IRS irs.gov https://.irs.gov › pub › irs-pdf irs.gov https://.irs.gov › pub › irs-pdf