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What is 8812 Form: What You Should Know

If you are subject to the alternative minimum tax (AMT), you should report income in Box 5b of Form 1040A and your adjusted household  Eligible Businesses and Estates in 2018, or Taxpayers in 2017 The income limits for claiming the Additional Child Tax Credit are as follows: If you are a nonresident taxpayer who has a qualifying child who is a minor, you may also deduct child care expenses from your  Eligible business and certain other income. See the Child and Dependent Care Expenses Deduction in Publication  23, Tax Benefits for Children and Dependents. For a married individual filing a joint return or a married individual filing separately, you'll need to  Calculate or determine the credit. See the 2023 Children's Tax Credit table. Eligible Individuals and Estates.

Online solutions help you to manage your record administration along with raise the efficiency of the workflows. Stick to the fast guide to do Form 8812, steer clear of blunders along with furnish it in a timely manner:

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Video instructions and help with filling out and completing What is Form 8812

Instructions and Help about What is Form 8812

Hello and welcome to our software tutorial series in this tutorial we will go over how to figure the Earned Income Credit after completing this lesson you should be able to calculate the Earned Income Credit in the tax software on the main information sheet select the EIC checkbox for any dependents who may qualify the return for the Earned Income Credit if any qualifying child is over age 19 the scheduled ESC will be highlighted in red on the form stream go to this form and answer the questions regarding that child the questions are on lines 4a and 4b at the bottom of the schedule if the child was under age 24 and the stand a student at the end of the tax year select yes to question for a if the child was older than age 19 and permanently disabled select yes to question 4b do not answer both of these questions leave the one that does not apply blank answering both questions will cause an electronic filing error in Diagnostics we will now need to go to schedule EIC worksheet by selecting the worksheet from the form stream questions 1 & 6 are calculated based on information entered on the main information sheet line 5 is calculated based on the amount of disqualified income from interest dividends rent capital gains and other types of income that have been entered in the returned answer questions - 4a & 6 by selecting the appropriate answer to the questions be sure to read the question carefully and select the appropriate checkbox on line 2 select the yes check box if the taxpayer has a social security number that allows him or her to work or is valid for ESC purposes otherwise select no if no is selected here the...

FAQ - What is Form 8812

Who fills out Schedule 8812?
What is Form 8812? They must be a U.S. citizen, national, or resident. They must under the age of 17 by the end of the calendar tax year. They must live with you for more than half the year. They must receive over half of their support from you.
Who needs to fill out 8812?
In most years, if the total credit amount for all of your qualifying children exceeds the amount of tax you owe for the year, the IRS requires you to prepare Schedule 8812 to claim this amount.
Do I need to attach 8812?
The amount of credit owed to you will vary based on your income level, but if your total credit amount exceeds the amount of tax that you owe, the IRS requires you to file Form 8812.
How do I get to Schedule 8812 on TurboTax?
Schedule 8812 In the Federal section of your return, go to Deductions & Credits. Scroll down to You and Your Family and click Revisit/Start next to Advance payments, Child and Other Dependent Tax Credits. Click Continue. Answer Let's start with where you spent the most time in 2021.
Why is TurboTax asking me about 8812?
Everyone is being asked this question since TurboTax does not know if the user was one who received these advances from the IRS in 2023. Enter a (zero) when asked to enter a number on the Schedule 8812. This will correct the issue and remove the Schedule 8812 from your tax return so that you can file the return.
Why is TurboTax making me fill out 8812?
Everyone is being asked this question since TurboTax does not know if the user was one who received these advances from the IRS in 2023. Enter a (zero) when asked to enter a number on the Schedule 8812. This will correct the issue and remove the Schedule 8812 from your tax return so that you can file the return.
How do I know if I need to file 8812?
Use Schedule 8812 (Form 1040) to figure your child tax credits, to report advance child tax credit payments you received in 2023. and to figure any additional tax owed if you received excess advance child tax credit payments during 2021.
Why is TurboTax asking about 8812?
It is clearly a bug in the program. Follow the wizard / instructions and enter that you have zero dependents. It will allow you to proceed to the next item of entry. When you finally get to the check your return portion - it will state that you need to correct schedule 8812.
Does TurboTax automatically fill out Form 8812?
Schedule 8812 (Child Tax Credit) is generated if a child that's being claimed under the Child Tax Credit has an ITIN instead of a Social Security number. TurboTax will automatically add it to your return. Just enter your dependent information and complete your return as you would normally.
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