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child income tax credit

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ndnicks

Member
What is the name of your state? Texas

I have a question about filing for child income tax credit. When you file, say you paid 1300 dollars in taxes that year. You get back all of your tax money due to other issues but do you get MORE money for filing your child? Or does that only give you back more of your money, like if you paid 8000 dollars and only received 3500 of it back, you'd get your 3500 + child income tax credit?

What is the child income tax credit in texas?
 


abezon

Senior Member
There is no child income tax credit. There's a child tax credit & an earned income tax credit. The child tax credit is a nonrefundable credit -- it reduces your income taxes to $0 but does not increase your refund after that. However, there is also an additional child tax credit, which IS refundable. The ACTC is a way for people who earned over $10,750 to get back the rest of their child tax credit.

EX: After other credits, your income tax is $500. You have 2 kids under 16, so your potential CTC is $2000. You get a CTC of $500. Then you get an ACTC of up to $1500, depending on how much earned income you had. ACTC = (earned income - $10,750) x .15.
 

ndnicks

Member
We've definitely earned about 12-15000 dollars this year. We're filing married, but we aren't sure how we would receive more. Should my husband, who earned the majority of the money (nine months of pay compared to my 4) file with our son and I file separate? Or would we make more filing married. We're waiting to receive our forms back from our jobs we've worked so we can have the full totals and figures.
 

abezon

Senior Member
$12-15k of earnings means about $1700 of earned income credit. If you file separately, your EIC is $0.
 

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