Searching for Child tax credit worksheet? Wanted to claim for the child tax credit? Then you are at right place. We have child tax credit worksheet that will guide you to calculate the child tax credit. This is used to examine how much credit you can claim in form 1040, Form 1040 A, and Form 1040NR. You can download this worksheet and print it to meet your requirements. We know that it is not easy for you to determine the credit by yourself. So here are some instructions for you. Follow these steps for calculating the credit after downloading or taking the print of worksheet.
Printable Child Tax Credit Worksheet Form Chart Table 8812
Line 1: Enter the number of qualifying children for claiming the credit and multiply the number with $1000.
Line 2: fill the adjusted gross Income (you can find it in line 38 of Form 1040 and line 22 of Form 1040A)
Child Tax Credit Worksheet
Line 3: enter the indicated amount depending on your filing status.
Line 4: Here you need to subtract the value of line 3 from line 2 and rounding the value to next thousand. For example– if the result comes out to be $448 then you will write $1000 or if it is $2845 then you will write $3000.
Child Tax Credit Form 8812
Note- If the value in line 3 is larger than line 2 (that is the result is negative) then writes the value 0 in line 5 and jump to line 6.
Line 5: Multiply the value in line 4 by 0.5 (this means to find 5% of the value in line 4)
Child Tax Credit Chart
Line 6: now deduct the value in line 5 from line 1. If the value in line 1 is greater than line 5 then the outcome will be positive and you will be eligible for the claim. Enter the value in the box given and continue to the next part.
But if the result is negative then you cannot fill the claim. Also you are not eligible for additional child tax credit.
Line 7: Enter your tax amount indicated on line 46 of Form 1040 and line 28 of Form 1040A
Child Tax Credit Table 2018
Line 8: write the amount of tax by adding up all the tax credit amounts on child tax credit worksheet
Line 9: Now you need to subtract the amount in line 8 from Line 7. This is the actual amount to be deducted.
Line 10: After comparing the value in line 6 and line 9, enter the smaller amount in line 10 and on line 51 of Form 1040, line 33 of Form 1040A. This is your child tax credit amount. Also if the value in line 6 is larger than child tax credit amount then you are eligible for Additional Child tax credit.
This is the right method to fill the worksheet and get the accurate amount of the Child tax credit. If you want to claim this credit then you must check the eligibility of your child for getting this credit. The one who qualify the six tests based on age, relationship, dependent, residence, citizenship and support will be eligible for this benefit from the government. So check the qualification criteria before filing the claim. The rest of the help you will get from this worksheet.