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Additional Child Tax Credit

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  • Additional Child Tax Credit

    I'm trying to understand the Additional Child Tax Credit. From what I'm reading it seems like high earners can claim this credit, just at a reduced amount? Does anyone claim it?

    I downloaded an excel version of Form 1040 to try to understand my taxes a bit better than just plugging numbers into turbo tax. This spreadsheet is telling me we can get a $2800 additional child tax credit (2 kids) even though income is over $400k. But I can't get turbo tax to even consider the additional child tax credit so I'm wondering if this spreadsheet is just not calculating something correctly or if turbo tax isn't.


  • #2
    In my case, using the desktop version, TurboTax prompted and determined eligibility even if you phase completely out.


    • #3
      you can get the full credit of $2k per child if your HH income is under $400 filing jointly. If you made more than $440k you get $0 in credit. Between those two numbers there's a phase out. I used turbo tax last year but not this year and from basic questions about my kids and our HH income it calculated the credit for me correctly. If you can't get TT to even consider it, is your income over $440k? that's my guess why


      • #4
        I am getting $3350 for the Child Tax Credit in turbo tax. My question is for the Additional Child Tax Credit (ACTC). But after reading up more on it, we cannot take it. Thanks for your responses!

        From IRS:
        Additional Child Tax Credit (ACTC)
        This credit is for certain individuals who get less than the full amount of the CTC. The ACTC may give you a refund even if you do not owe any tax.