What is 1040 Schedule 8812?

Understanding 1040 Schedule 8812 is crucial for taxpayers who qualify for the Child Tax Credit. This schedule is used to determine the additional Child Tax Credit that can be claimed if the amount of Child Tax Credit exceeds the taxpayer's tax liability. Essentially, 1040 Schedule 8812 helps families with eligible children to potentially receive further tax benefits.

What are the types of 1040 Schedule 8812?

There are two main types of 1040 Schedule 8812. The first type is for those who have a qualifying child, and the second type is for those who do not have a qualifying child. The requirements and calculations differ between the two types, so it is important to understand which category you fall into when completing the schedule.

Type 1040 Schedule 8812 for taxpayers with a qualifying child.
Type 1040 Schedule 8812 for taxpayers without a qualifying child.

How to complete 1040 Schedule 8812

Completing 1040 Schedule 8812 may seem complex at first, but with the right guidance, it can be done accurately. Here is a step-by-step guide to help you complete this schedule:

01
Fill out your personal information: Provide your full name, Social Security number, and other necessary details.
02
Enter information about your qualifying child if applicable: Include the child's name, Social Security number, and relationship to you.
03
Calculate the Child Tax Credit: Determine the amount of Child Tax Credit you are eligible for based on your income and number of qualifying children.
04
Calculate the additional Child Tax Credit: If your Child Tax Credit exceeds your tax liability, you may be eligible for the additional Child Tax Credit. Use the provided worksheet to calculate this amount.
05
Transfer the calculated credits to your Form Once you have determined the proper amounts, transfer them to the appropriate sections of your Form 1040.
06
Review and double-check: Ensure that all the information provided is accurate and verified. Mistakes or errors might affect your tax refund or liability.

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Video Tutorial How to Fill Out 1040 Schedule 8812

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Questions & answers

The program: The calculation of the additional child tax credit is dependent on the amount of your 'earned income' and the number of qualifying children you have.
Schedule 8812 (Child Tax Credit) is generated if a child that's being claimed under the Child Tax Credit has an ITIN instead of a Social Security number. TurboTax will automatically add it to your return. Just enter your dependent information and complete your return as you would normally.
How to file Form 8812. You will first need to complete the form using the Schedule 8812 instructions and then enter the results on your Form 1040. You'll need to include the completed schedule with you tax return. You'll use Form 8812 to calculate your Additional Child Tax Credit.
Use Schedule 8812 (Form 1040) to figure your child tax credits, to report advance child tax credit payments you received in 2021, and to figure any additional tax owed if you received excess advance child tax credit payments during 2021.