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Printable Form 8812 Wisconsin: What You Should Know
What is a Child Tax Credit? The child tax credit eliminates the child tax liability of all dependent students, dependent adopted children and surviving spouses who are under age 17 at the end of the year and who aren't eligible for any of the other credits. For example, this includes a dependent child who is disabled or on disability (dividing the family to include dependents under 17). The child tax credit is refundable, but because the IRS needs to know the income of the filer and the number of dependents in the family, it might be necessary to take the child tax credit as income for IRS purposes. The credit phase out depends on the number of dependents in the family. Example The following families don't have to claim any child tax credit: The full child tax credit (at the current tax rates) is 2,000 for a single filer (6,000 for a married couple filing jointly). Two dependent children don't owe income tax because they are not qualifying children. Two dependent children and five other dependents don't owe income tax because they are eligible to claim other child tax credits such as the Additional Child Tax Credit and the Child Tax Credit. How to Claim the Child Tax Credit It's worth it to claim as much of the child tax credit as possible if you are planning to claim an additional child tax credit or qualifying child credit next year. In general, you can claim any tax credit or deduction on Schedule A, B, C, or D of Form 1040 or in any form you use (such as Schedule E, F, or G). For a tax credit that isn't refundable, you can't claim the child as a dependent, or you can designate the child for a credit and then claim the child as a dependent. Child Tax Credit Information The following is a summary of the child tax credit. If you're interested in more technical details, read the information at IRS.gov, including Pub. 519. The child tax credit is given as a refundable tax credit. If you use Schedule A, B, C, or D of Form 1040 to figure your federal income tax, you must adjust your deductions to claim all credits and deductions.
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