8812 instructions child credit-2025

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  1. Click ‘Get Form’ to open the 8812 instructions in the editor.
  2. Begin by reviewing the eligibility criteria for claiming the Additional Child Tax Credit (ACTC). Ensure each qualifying child has a valid Social Security Number (SSN) as required.
  3. Fill out Part I by entering your earned income on line 6a. Use the Earned Income Chart provided in the instructions to determine this amount.
  4. If applicable, indicate any nontaxable combat pay on line 6b, as shown on your Form W-2.
  5. For those with three or more qualifying children, complete line 9 using the Line 9 Worksheet to calculate any Additional Medicare Tax withheld.
  6. Review all entries for accuracy and completeness before saving your document. Utilize our platform's features to sign and distribute your completed form easily.

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Under Code Sec. 24, taxpayers can claim a credit for each qualifying child, with phaseouts for taxpayers at certain income levels. Under the TCJA, for the 2018-2025 tax years (other than 2021), the CTC is $2,000 per qualifying child. After 2025, it is set to drop back down to $1,000 per qualifying child.
You can claim the Child Tax Credit by entering your children and other dependents on Form 1040, U.S. Individual Income Tax Return, and attaching a completed Schedule 8812, Credits for Qualifying Children and Other Dependents.
The Additional Child Tax Credit generally cant be more than 15% of your earned income above $2,500. For example, if you have $50,000 of earned income, the refundable portion of the Child Tax Credit cant be more than $7,125 (($50,000 - $2,500) x 0.15 = $7,125).
To calculate your Child Tax Credit, first determine your base amount by multiplying the number of qualifying children you have by $2,000. So, for example, if you have three qualifying children, your base amount is $6,000 ($3 x $2,000 = $6,000). The next step is to determine your modified adjusted gross income (MAGI).
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.

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Overview. The Young Child Tax Credit (YCTC) provides up to $1,154 per eligible tax return for tax year 2024. YCTC may provide you with cash back or reduce any tax you owe. California families qualify with earned income of $31,950 or less.
To claim the American opportunity credit complete Form 8863 and submit it with your Form 1040 or 1040-SR. Enter the nonrefundable part of the credit on Schedule 3 (Form 1040 or 1040-SR), line 3. Enter the refundable part of the credit on Form 1040 or 1040-SR, line 29.

turbotax 2021 advance child tax credit