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SCHEDULE 8812 (Form 1040) Department of the Treasury Internal Revenue Service Credits for Qualifying Children and Other Dependents Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Schedule8812 for instructions and the latest information. OMB No. 1545-0074. 2023. Attachment Sequence No. 47. Name(s) shown on return . Your social ...
Use Schedule 8812 (Form 1040) to figure your child tax credits, to report advance child tax credit payments you received in 2021, and to figure any additional tax owed if you received excess advance child tax credit payments during 2021.
SCHEDULE 8812 (Form 1040) 2021 Credits for Qualifying Children and Other Dependents Department of the Treasury Internal Revenue Service (99) Attach to Form 1040, 1040-SR, or 1040-NR. . Go to . www.irs.gov/Schedule8812 . for instructions and the latest information. OMB No. 1545-0074. Attachment Sequence No. 47. 1040 1040-SR 1040-NR ...
Typically, the taxpayers’ MAGI is the same as their AGI from Form 1040. For more information on MAGI as it applies to the child tax credit, refer to the Instructions for Schedule 8812.
In this video I discuss how to fill out out the child tax credit schedule, Schedule 8812 on the Form 1040. I discuss the 3,600 and 3,000 child tax credit amo...
Schedule 8812 (Child Tax Credit) is used to claim the Child Tax Credit (CTC), Credit for Other Dependents (ODC), and Additional Child Tax Credit (ACTC). The CTC and ODC are nonrefundable credits and only provide a credit up to the amount of tax owed.
You can claim the Child Tax Credit as part of filing your annual tax return with Form 1040. You’ll also need to complete and include Schedule 8812 (Credits for Qualifying Children and Other Dependents).
If you owe less tax than the total of your CTC, you can use Schedule 8812 to claim up to $1,600 as a refundable credit through the Additional Child Tax Credit. To qualify for the Child Tax Credit, the child can be your son, daughter, stepchild, blood or step sibling, foster child, or the descendants of any of the above and meet other requirements.
What is Schedule 8812? Taxpayers use Schedule 8812 to calculate the child tax credit, additional child tax credit, and tax credit for other dependents. The child tax credit amounts include a refundable tax credit and a nonrefundable credit.
Schedule 8812 is a supplementary tax form used by U.S. taxpayers to determine whether or not they qualify for the ACTC. The ACTC is designed for individuals who qualify for the CTC but do not receive the full amount of the credit due to its non-refundable nature.