The Child Tax Credit Worksheet helps families determine how much they can claim on their federal tax return. For the current tax year, the child tax credit is worth up to $2,000 per qualifying child under age 17. To qualify, the child must be your dependent, a U.S. citizen or resident, and must have lived with you for more than half the year (over 182 days).
The credit phases out when your modified adjusted gross income exceeds $200,000 (single filers) or $400,000 (married filing jointly). For every $1,000 over the limit, the credit is reduced by $50. If the credit exceeds the taxes you owe, up to $1,600 per child may be available as the refundable Additional Child Tax Credit (ACTC) via Schedule 8812, allowing eligible families to receive money back even if they owe no federal tax.
This worksheet walks you through calculations considering your number of qualifying children, filing status, income, and any other credits you are claiming. Complete it before filing Form 1040 to determine the full amount of the credit and whether any advance Child Tax Credit payments previously received reduce your final credit. Without this worksheet, taxpayers risk missing out on the money the federal government owes them for each qualifying child they support. Correctly filing it is essential for optimizing your tax return.
| Question | Answer |
|---|---|
| Form Name | Child Tax Worksheet Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | irs tax credit child, child tax credit 2019 form, child tax credit worksheet 2019, pub 972 worksheet 2020 |