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 Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Basic Information to expand the category and then click Dependents and Other Qualifying Persons
- Click +Add a Dependent to create a new copy of the form, click Edit to review dependent information already in the return, or click the trash can icon 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 Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Other Credits to expand the category and then click Child tax credit (scroll down if necessary)
- 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.