For the child tax credit, you may first want to check the dependent information that flows to Form 1040 to see how the information regarding the child is being reported. It is important that the child's data (such as social security number, year of birth, relationship, number of months lived with you, etc.) is entered correctly for the child tax credit to calculate.
To review or change the dependent information:
- From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab
- Click Basic Information to expand the category and then click Dependents and Other Qualifying Persons
- Click Add to create a new copy of the form, click Review to review dependent information already in the return, or click Delete to delete a dependent
- The program will proceed with the interview questions for you to enter or review the appropriate information
Your credit amounts are automatically calculated based on the dependent and income information you have entered. To review your calculated child tax credit:
- Click the Federal Q&A tab
- Click Other Credits to expand the category and then click Child tax credit
- The program will proceed with the interview questions for you to enter or review your credit information
For additional information regarding the Child Tax Credit please refer to IRS Instructions for Form 1040 or IRS Publication 972 Child Tax Credit.