What is Additional Child Tax Credit Form 8812?
What is Form 8812? The Schedule 8812 Form is found on Form 1040, and it’s used to calculate the alternative refundable credit known as “the additional child tax credit”. For example, if the amount you owe in taxes is either zero or less than the credit, you cannot claim the full child tax credit of $2,000.
How do I fill out the additional child tax credit form?
How to file Form 8812. First, complete the Child Tax Credit and Credit for Other Dependents Worksheet that applies to you. You can find instructions on line 19 of your Form 1040. If you qualify for the Additional Child Tax Credit, you’ll then complete Schedule 8812 and attach it to your Form 1040.
What was the child tax credit for 2012?
The Child Tax Credit is up to $1,000 for each qualifying child who was under the age of 17 at the end of 2012. This credit can be claimed in addition to the credit for child and dependent care expenses, but phases out for married couples who earn over $110,000 and single filers who earn more than $75,000.
Who qualifies for the additional child tax credit?
To be eligible for the child tax credit, the child or dependent must: Be 16 years or younger by the end of the tax year. Be a U.S. citizen, national, or resident alien. Have lived with the taxpayer for more than half of the tax year.
Is there a difference between child tax credit and additional child tax credit?
The additional tax credit is for certain individuals who get less than the full amount of the child tax credit. The child tax credit is nonrefundable. A refundable tax credit allows taxpayers to lower their tax liability to zero and still a receive a refund. The additional child tax credit is refundable.
How do I know if I claim additional child tax credit?
To determine whether you’re eligible to claim the Additional Child Tax Credit, you can fill out the Child Tax Credit Worksheet included in the Form 1040 instructions. If you qualify, the worksheet will direct you to fill out Schedule 8812 to claim the Additional Child Tax Credit.
Do you get a tax refund on form 8812?
Use Schedule 8812 (Form 1040) to figure the additional child tax credit. The additional child tax credit may give you a refund even if you do not owe any tax. None at this time.
When to use schedule 8812, additional child tax credit?
Use Part I of Schedule 8812 (Form 1040) to document that any child for whom you entered an ITIN and for whom you also checked the “if qualifying child for child tax credit” box, is a resident of the United States because the child meets the substantial presence test and is not otherwise treated as a nonresident alien.
How to claim the additional child tax credit?
INFORMATION FOR… Use Schedule 8812 (Form 1040) to figure the additional child tax credit. The additional child tax credit may give you a refund even if you do not owe any tax. None at this time.