Child Tax Credit (CTC) 1

What is a Tax Credit Credits are designed to offset tax liability Refundable credits Nonrefundable credits CTC is nonrefundable Addition CTC is refundable 2

CTC Rules Qualifying child is: o Under 17 o US Citizen, national, or permanent resident o Claimed as your dependent o Did not provide over half of their own support o Lived with the taxpayer for more than 6 months of tax year MFS with income over $55,000 are not eligible for entire credit Credit amount is $1,000 3

TaxWise Main Info Page Enter child’s birthdate, relationship, months in home, and social security number TaxWise will determine if the child qualifies the taxpayer for the credit 4

TaxWise 1040 Page 2 Information automatically transfers to the

TaxWise 1040 Page 2 Additional child tax credit automatically transfers 6