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Child Tax Credits?
So from my understanding, the Child Tax Credit is worth $2,000, but only $1,400 is refundable. Ok. Then they throw in the Additional Child Tax Credit worth up to 15% of your taxable income of anything over $2,500. What is the difference between these two credits? Do you have to take the ACTC to even get the refundable portion of the CTC?
1 Answer
- Anonymous3 months ago
It's the same money. First you apply the money to your tax bill. If money is leftover, then the ACTC comes into play.