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Free Forms Courtesy of FreeTaxUSA.prepare, Print, and File Your Federal Tax Return for FREE!! Go to www.FreeTaxUSA.com to start your free return today!SCHEDULE 8812 (Form 1040A or 1040)OMB No. 15450074Child

How to fill out about schedule 8812 and

How to fill out Schedule 8812:

1. Gather all necessary documentation: Before beginning to fill out Schedule 8812, ensure you have all the required documents such as your previous year's tax return, any forms related to child tax credits, and relevant information about your dependent children.
2. Understand the purpose of Schedule 8812: Schedule 8812, commonly known as the Additional Child Tax Credit, is used to determine if you qualify for any refundable child tax credits beyond the non-refundable portion of the Child Tax Credit.
3. Provide basic information: Start by entering your name, social security number, and the corresponding tax year at the top of Schedule 8812. Also, include the same information for your spouse if you file jointly.
4. Calculate the non-refundable Child Tax Credit: If you haven't done so already, fill out Form 1040 or 1040A to claim the non-refundable Child Tax Credit. Enter the amount from line 52 of Form 1040 or line 35a of Form 1040A onto Schedule 8812, line 1.
5. Determine if you're eligible for the Additional Child Tax Credit: To determine if you qualify for the Additional Child Tax Credit, complete Part I of Schedule 8812. This section involves calculating your earned income, taxable income, and any federal income tax withheld.
6. Calculate refundable credits: If the amount from line 6 (Part I of Schedule 8812) is greater than zero, you may be eligible for the refundable portion of the Additional Child Tax Credit. Proceed to complete Part II of Schedule 8812 to calculate this amount. This involves multiplying a percentage of your earned income by the number of qualifying children.
7. Complete the worksheet: Use the worksheet provided in the Schedule 8812 instructions to double-check your calculations and ensure accuracy.
8. Transfer the total to your tax return: Once you have filled out all the applicable sections of Schedule 8812, transfer the calculated refundable Child Tax Credit amount to the appropriate line on your individual tax return, whether it's Form 1040 or 1040A.

Who needs Schedule 8812:

1. Taxpayers with qualifying dependents: Schedule 8812 is primarily needed by individuals or families who have qualifying dependents, usually children, and wish to claim the Additional Child Tax Credit. This credit is refundable and can provide further tax benefits beyond the non-refundable Child Tax Credit.
2. Low-income individuals or families: The Additional Child Tax Credit is specifically designed to assist low-income individuals or families who may not have a sufficient tax liability to benefit fully from the non-refundable Child Tax Credit. If you believe you qualify for this credit, filling out Schedule 8812 is necessary to determine your eligibility.
3. Those who meet specific criteria: Eligibility for the Additional Child Tax Credit is determined by various factors, including earned income, taxable income, and the number of qualifying children. If you meet the criteria specified by the Internal Revenue Service (IRS), you may need to fill out Schedule 8812 to claim this credit.

For pdfFiller’s FAQs

What is about schedule 8812 and?

Schedule 8812 is a form used by taxpayers to claim the Additional Child Tax Credit.

Who is required to file about schedule 8812 and?

Taxpayers who have qualifying children and are eligible for the Additional Child Tax Credit must file Schedule 8812.

How to fill out about schedule 8812 and?

Taxpayers must provide information about their qualifying children, income, and expenses related to childcare on Schedule 8812.

What is the purpose of about schedule 8812 and?

The purpose of Schedule 8812 is to help taxpayers claim the Additional Child Tax Credit, which provides additional tax benefits for families with children.

What information must be reported on about schedule 8812 and?

Taxpayers must report information about their qualifying children, income, and childcare expenses on Schedule 8812.

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