I am confused about the child tax credit. When i used the tax caculators it says I do not qaulify for that credit. I will be filling head of household and I have 2 children age 5 and 6. My income was 11,345 dollars. It also said that I do not qaulify for the additional child tax credit. Why don't i qaulify?
2007-01-06 12:05:32 · 6 answers · asked by CHRISTY R 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
The child tax credit reduces tax you owe, up to $1,000 per child. Your taxable income is zero, so there is no credit to apply.
Additional child tax credit is paid to you, and can be up to the amount of child tax credit that was not used. It is 15% of the adjusted gross income in excess of $11,300. So the additional child tax credit in your case would be $68.
Your filing status does not affect either credit.
2007-01-06 14:25:14 · answer #1 · answered by ninasgramma 7 · 1⤊ 0⤋
From IRS:
Limits on the Credit
You must reduce your child tax credit if:.
The amount on Form 1040, line 46; Form 1040A, line 28; or Form 1040NR, line 43; is less than the credit. If this amount is zero, you cannot take this credit because there is no tax to reduce.
More info:
http://www.irs.gov/publications/p972/ar02.html
2007-01-06 12:15:10 · answer #2 · answered by Anonymous · 0⤊ 0⤋
the baby Tax credit device run by potential of the dept of paintings and Pensions is fairly magnificent. Childcare expenses do gets a commission for too, as much as seventy 5% of the fee, and that is going directly to the carer. (The carer can no longer be a kinfolk member and could be an authorized childminder). ensure you hold them as much as date to any adjustments on your earnings because of the fact in the experience that your earnings have been to fluctuate - like in case you shrink your hours - you enable them to comprehend and your working Tax credit will go as much as compensate. it rather is an staggering device meaning we are able to spend time with the toddlers with out having to agonize.
2016-11-27 00:41:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
is there a age of a child to get the child tax credit
2017-01-28 18:52:59 · answer #4 · answered by Pamela 1 · 0⤊ 0⤋
hi,.,. you reached the limit that it states on the form,..check the form again it should mention the limit allowed to qualify for the credit,..,
good luck thanks,..,
2007-01-06 12:10:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
http://www.irs.gov/
2007-01-06 13:43:17 · answer #6 · answered by Piguy 4 · 0⤊ 0⤋