Level 1

Question

Schedule C

Forum|Forum|3 years ago
June 7, 2023
2 replies
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Greetings,

I am doing some prior year returns and I am having a problem with Schedule C and the Child Tax Credit, When I enter information on a W2 screen, the child tax credit appears on the tax return. When I replace the W2 with the Schedile C the tax credit is taken away. Can someone tell me if I am missing something? I have been over the 8867 several times, but I am not able to figure it out.

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Level 15

Is Schedule C a net positive income? Is this a married couple and you are confusing Taxpayer & Spouse?

Answers are easy. Questions are hard!

Intuit Community Champion

Intuit Community Champion

The 8867 wont control the credits on the return so dont waste time going over that.

Why are you replacing one with the other? How much income on Box 1 of W2? How much income on Line 31 of Sch C?

Is the credit taken away or is the refund just reduced? Is the SE tax from Sch C eating up the credit so you dont see it in the refund anymore?

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