Form 1040 (Schedule 8812) online Glendale Arizona 2024-2025

Form 1040 (Schedule 8812) online Glendale Arizona: What You Should Know

When you file Form 1040, you include a Form 8812 in the return. There are three ways to use the form, depending on the tax and the filing status of your child. If your income is under ‪#‎ ‪130,000 Schedule 8812, Additional Child Tax Credit: The Additional Child Tax Credit is a tax-free credit of 20% of your modified adjusted gross income (AGI) up to a reduced amount depending on your filing status. If your income is 130,000 or more (other than a citizen or resident alien who is not eligible to claim a foreign earned income exclusion), you generally cannot claim the Additional Child Tax Credit. Example. If your AGI is 130,000, but if you are a nonresident alien, you can claim up to 15% of this amount. You could also claim the Additional Child Tax Credit for income between 130,000 and 170,000 but only up to 100,000. If your AGI is 170,000 or more (other than a citizen or resident alien who is not eligible to claim a foreign earned income exclusion), you generally cannot claim the Additional Child Tax Credit. The Additional Child Tax Credit is not a tax deduction. The additional child tax credit reduces the tax liability of the family and can reduce the amount of tax you pay on your income tax. A nonresident alien family member may not use Form 8811 to claim a benefit of the Additional Child Tax Credit. For more information, go to IRS.gov/Form-4028. If your gross income is less than ‪70,000 Schedule 8812 Additional Child Tax Credit: The Additional Child Tax Credit is another tax-free credit to be calculated against your income. But, it does not reduce your tax liability for the year. Example. You may claim the credit. If your income is up to the ‪limit ‪or 70,000 (125,000 if married filing jointly) (including dependents), and you and your spouse file a joint return, you may claim the credit. However, you and your spouse cannot choose to claim a higher credit. You can claim the child tax credit if both you and your spouse are citizens or permanent residents. For more information, go to IRS.gov/Form-4028.

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