Schedule 8812 Instructions Form 2023-2024

Schedule 8812 Instructions Form: What You Should Know

IRS Schedule 8812: Additional Child Tax Credit Form The Schedule 8812 Form is found on Form 1040, and it's used to calculate the additional child tax credit (ACT) (known as the additional child tax credit), which is calculated based on the household's adjusted gross income and child-related expenses. For instance, a household earning 50,000 and having 15,000 in child-related expenses (including an allowance, but not meals) would have 8,000 in extra child tax credit available. You can't claim this credit in most  states. See IRS Form 8812 Instructions — smart Tax. IRS Schedule 8812: Additional Child Tax Credit Payment Deadline The payment deadline for the 2024 tax year is April 15, 2019—so your child tax credit payments will be due in 2019. Tax-Filing requirements for the child tax credit For 2017, there are no tax-filing needs that come with the child tax credit. The credit is automatically calculated and added to your 2024 tax return. If you earned more than 600,000, you also get a 500 credit for any unused first-time homebuyer credit and any unused third-party tax credit.  A couple is married filing a joint return if one or both of the following is true: Their adjusted gross income is 650,000 or less A qualified child is under age 18 and resides with both parties for more than half the year There are no other qualifying children or qualifying family members.  If your household income exceeds 600,000 (or less), you can still submit Form 1040, Schedule A (Form 1040). But the amount (or portion) of the credit you receive must be apportioned between you and your qualifying child. See the next section for more details. How to make a Form 8809 or Form 8803. You can apply for either Form 8809 or Form 8803 to figure how much additional child tax credit to claim. You complete these forms online and attach them to your return. Forms to file with Forms 8809 and Form 8803. After the child tax credit is calculated, the amount of credit you claim on the Form 1040 is automatically subtracted from the amount of credit you claim on your return. This is because the credit is automatically subtracted. The IRS doesn't know who made your payment or how much was paid.

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