Child Tax Credit - Nonrefundable Credits (or Form 2555) Worksheet
1

If you are claiming any of the following nonrefundable credits or excluding income from Puerto Rico, American Samoa, or other foreign earned income on Form 2555 Foreign Earned Income, you will need to use the various worksheets on pages 6-9 of IRS Publication 972 Child Tax Credit and Credit for Other Dependents to calculate the Child Tax Credit.

  • Form 8396 Mortgage Interest Credit
  • Form 8839 Qualified Adoption Expenses
  • Form 5695 Residential Energy Credits
  • Form 8859 Carryforward of the District of Columbia First-Time Homebuyer Credit

The TaxAct program contains the worksheets necessary to compute your Child Tax Credit and will calculate the credit based on your entries; however, you may need to make additional adjusting entries by following these steps:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Other Credits in the Federal Quick Q&A Topics menu to expand, then click Child tax credit.
  3. Continue with the interview process to enter all of the appropriate information.

You will see an outline of the children currently qualified for the Child Tax Credit and the credit amount applied to your return.

Your Child Tax Credit may be reduced if your income exceeds the following thresholds:

  • Married filing jointly - $400,000
  • All other filing statuses - $200,000

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.