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Child Tax Credits - Non Refundable Additional CTC – Refundable

4491-26 Child Tax Credit v1.0 VO.ppt. Child Tax Credits - Non Refundable Additional CTC – Refundable. Pub 17 Chapter 34 Pub 4012 Tab G. LEVEL 2 TOPIC. Child Tax Credit (CTC). Non-Refundable Credit Maximum credit per qualified child - $1,000 General Requirements:

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Child Tax Credits - Non Refundable Additional CTC – Refundable

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  1. 4491-26 Child Tax Credit v1.0 VO.ppt Child Tax Credits - Non RefundableAdditional CTC – Refundable Pub 17 Chapter 34 Pub 4012 Tab G LEVEL 2 TOPIC NJ Training TY2010 v1.0

  2. Child Tax Credit (CTC) • Non-Refundable Credit • Maximum credit per qualified child - $1,000 • General Requirements: • Must meet Qualified Child Criteria • AGI and Filing Status determines amount, if any, of Credit • “CTC” box opposite dependent’s name on Main Information Sheet checked automatically by TaxWise • Tax Wise will automatically calculate credit NJ Training TY2010 v1.0

  3. Qualifying Child • Claimed as TP dependent: • Own child, step, adopted or foster child, or their descendents • Siblings, step brother/sister or their descendents • Age: Under 17 on December 31st of tax year • Residency: lived with TP over 6 months • Support: Child provided less than 50% of own support • US citizen or resident of US NJ Training TY2010 v1.0

  4. Additional CTC Refundable Tax Credit • TP may be eligible for this credit if TP did not get full benefit of the non-refundable CTC (tax liability less than allowable CTC) • Tax Wise will automatically insert Form 8812 for completion and calculation of additional CTC • Form 8812 • Part I – Applies to all filers • Part II – Applies to filers who have 3 or more qualifying children NJ Training TY2010 v1.0

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