Tax Year 2022
Client has 2 children ages 8 & 12 with no earned income. Credit is not calculating. What am I doing wrong?
I verified all information is correct on the Information Worksheet Part III for the children.
Using ProSeries Basic
Didnt they change it for 2022? Not the same as 2020 and 2021.
Definitely different from 2020 & 2021. Are you saying that they do not qualify for CTC if they do not have any earned income? That is not how I read it on IRS.gov.
Thanks in advance for your help.
Google is your friend:
In 2022, the tax credit will be refundable only up to $1,500 (up from $1,400 in 2020 to adjust for inflation), depending on your income, and you must have earned income of at least $2,500 to even be eligible for the refund.
Or:
YVW... a lot of clients are likely to be 'surprised'.
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