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Amendments 34. Amendments Child Tax Credit Table of Contents Introduction Useful Items - You may want to see: Qualifying Child Amount of CreditLimits on the Credit Claiming the Credit Additional Child Tax Credit Completing Schedule 8812 (Form 1040A or 1040)Part I Parts II–IV Introduction The child tax credit is a credit that may reduce your tax by as much as $1,000 for each of your qualifying children. Amendments The additional child tax credit is a credit you may be able to take if you are not able to claim the full amount of the child tax credit. Amendments This chapter explains the following. Amendments Who is a qualifying child. Amendments The amount of the credit. Amendments How to claim the credit. Amendments The child tax credit and the additional child tax credit should not be confused with the child and dependent care credit discussed in chapter 32. Amendments If you have no tax. Amendments Credits, such as the child tax credit or the credit for child and dependent care expenses, are used to reduce tax. Amendments If your tax on Form 1040, line 46, or Form 1040A, line 28, is zero, do not figure the child tax credit because there is no tax to reduce. Amendments However, you may qualify for the additional child tax credit on line 65 (Form 1040) or line 39 (Form 1040A). Amendments Useful Items - You may want to see: Publication 972 Child Tax Credit Form (and Instructions) Schedule 8812 (Form 1040A or 1040) Child Tax Credit W-4 Employee's Withholding Allowance Certificate Qualifying Child A qualifying child for purposes of the child tax credit is a child who: Is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, or a descendant of any of them (for example, your grandchild, niece, or nephew), Was under age 17 at the end of 2013, Did not provide over half of his or her own support for 2013, Lived with you for more than half of 2013 (see Exceptions to time lived with you , later), Is claimed as a dependent on your return, Does not file a joint return for the year (or files it only as a claim for refund), and Was a U. Amendments S. Amendments citizen, a U. Amendments S. Amendments national, or a resident of the United States. Amendments If the child was adopted, see Adopted child , later. Amendments For each qualifying child you must check the box on Form 1040 or Form 1040A, line 6c. Amendments Example 1. Amendments Your son turned 17 on December 30, 2013. Amendments He is a citizen of the United States and you claimed him as a dependent on your return. Amendments He is not a qualifying child for the child tax credit because he was not under age 17 at the end of 2013. Amendments Example 2. Amendments Your daughter turned 8 years old in 2013. Amendments She is not a citizen of the United States, has an ITIN, and lived in Mexico all of 2013. Amendments She is not a qualifying child for the child tax credit because she was not a resident of the United States for 2013. Amendments Filers who have certain child dependents with an Individual Taxpayer Identification Number (ITIN). Amendments If you are claiming a child tax credit or additional child tax credit for a child you identified on your tax return with an ITIN instead of an SSN, you must complete Part I of Schedule 8812 (Form 1040A or 1040). Amendments Although a child may be your dependent, you may only claim a child tax credit or additional child tax credit for a dependent who is a citizen, national, or resident of the United States. Amendments To be treated as a resident of the United States, a child generally will need to meet the requirements of the substantial presence test. Amendments For more information about the substantial presence test, see Publication 519, U. Amendments S. Amendments Tax Guide for Aliens. Amendments Adopted child. Amendments An adopted child is always treated as your own child. Amendments An adopted child includes a child lawfully placed with you for legal adoption. Amendments If you are a U. Amendments S. Amendments citizen or U. Amendments S. Amendments national and your adopted child lived with you all year as a member of your household in 2013, that child meets condition (7) above to be a qualifying child for the child tax credit. Amendments Exceptions to time lived with you. Amendments A child is considered to have lived with you for more than half of 2013 if the child was born or died in 2013 and your home was this child's home for more than half the time he or she was alive. Amendments Temporary absences by you or the child for special circumstances, such as for school, vacation, business, medical care, military service, or detention in a juvenile facility, count as time the child lived with you. Amendments There are also exceptions for kidnapped children and children of divorced or separated parents. Amendments For details, see Residency Test in chapter 3. Amendments Qualifying child of more than one person. Amendments A special rule applies if your qualifying child is the qualifying child of more than one person. Amendments For details, see Special Rule for Qualifying Child of More Than One Person in chapter 3. Amendments Amount of Credit The maximum amount you can claim for the credit is $1,000 for each qualifying child. Amendments Limits on the Credit You must reduce your child tax credit if either (1) or (2) applies. Amendments The amount on Form 1040, line 46, or Form 1040A, line 28, is less than the credit. Amendments If this amount is zero, you cannot take this credit because there is no tax to reduce. Amendments But you may be able to take the additional child tax credit. Amendments See Additional Child Tax Credit , later. Amendments Your modified adjusted gross income (AGI) is more than the amount shown below for your filing status. Amendments Married filing jointly - $110,000. Amendments Single, head of household, or qualifying widow(er) - $75,000. Amendments Married filing separately - $55,000. Amendments Modified AGI. Amendments For purposes of the child tax credit, your modified AGI is your AGI plus the following amounts that may apply to you. Amendments Any amount excluded from income because of the exclusion of income from Puerto Rico. Amendments On the dotted line next to Form 1040, line 38, enter the amount excluded and identify it as “EPRI. Amendments ” Also attach a copy of any Form(s) 499R-2/W-2PR to your return. Amendments Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income. Amendments Any amount on line 18 of Form 2555-EZ, Foreign Earned Income Exclusion. Amendments Any amount on line 15 of Form 4563, Exclusion of Income for Bona Fide Residents of American Samoa. Amendments If you do not have any of the above, your modified AGI is the same as your AGI. Amendments AGI. Amendments Your AGI is the amount on Form 1040, line 38, or Form 1040A, line 22. Amendments Claiming the Credit To claim the child tax credit, you must file Form 1040 or Form 1040A. Amendments You cannot claim the child tax credit on Form 1040EZ. Amendments You must provide the name and identification number (usually a social security number) on your tax return for each qualifying child. Amendments If you claim the child tax credit with a child identified by an ITIN, you must also file Schedule 8812. Amendments To figure your credit, first review the Child Tax Credit Worksheet in your Form 1040 or 1040A instructions. Amendments If you are instructed to use Publication 972, you may not use the worksheet in your tax return instructions; instead, you must use Publication 972 to figure the credit. Amendments If you are not instructed to use Publication 972, you may use the Child Tax Credit Worksheet in your Form 1040 or 1040A instructions or Publication 972 to figure the credit. Amendments Additional Child Tax Credit This credit is for certain individuals who get less than the full amount of the child tax credit. Amendments The additional child tax credit may give you a refund even if you do not owe any tax. Amendments How to claim the additional child tax credit. Amendments To claim the additional child tax credit, follow the steps below. Amendments Make sure you figured the amount, if any, of your child tax credit. Amendments See Claiming the Credit , earlier. Amendments If you answered “Yes” on line 9 or line 10 of the Child Tax Credit Worksheet in the Form 1040 or Form 1040A instructions, or line 13 of the Child Tax Credit Worksheet in Publication 972, use Parts II through IV of Schedule 8812 to see if you can take the additional child tax credit. Amendments If you have an additional child tax credit on line 13 of Schedule 8812, carry it to Form 1040, line 65, or Form 1040A, line 39. Amendments Completing Schedule 8812 (Form 1040A or 1040) Schedule 8812 contains four parts, but can really be thought of as two sections. Amendments Part I is distinct and separate from Parts II–IV. Amendments If all your children are identified by social security numbers or IRS adoption taxpayer identification numbers and you are not claiming the additional child tax credit, you do not need to complete or attach Schedule 8812 to your tax return. Amendments Part I You only need to complete Part I if you are claiming the child tax credit for a child identified by an IRS individual taxpayer identification number (ITIN). Amendments When completing Part I, only answer the questions with regard to children identified by an ITIN; you do not need to complete Part I of Schedule 8812 for any child that is identified by a social security number (SSN) or an IRS adoption taxpayer identification number (ATIN). Amendments If all the children for whom you checked the box in column 4 of line 6c on your Form 1040 or Form 1040A are identified by an SSN or an ATIN, you do not need to complete Part I of Schedule 8812. Amendments Parts II–IV Parts II–IV help you figure your additional child tax credit. Amendments Generally, you should only complete Parts II–IV if you are instructed to do so after completing the Child Tax Credit Worksheet in your tax return instructions or Publication 972. Amendments See How to claim the additional child tax credit , earlier. Amendments Prev Up Next Home More Online Publications
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Amendments IRAs and Other Retirement Plans Table of Contents 2002 ChangesSimplified Employee Pensions (SEPs) 403(b) Plans Later ChangeDeemed IRAs 2002 Changes Simplified Employee Pensions (SEPs) Contribution limit increased. Amendments For plan years beginning after December 31, 2001, the annual limit on the amount of employer contributions to a SEP increases to the lesser of the following amounts. Amendments 25% of an eligible employee's compensation. Amendments $40,000 (subject to cost-of-living adjustments after 2002). Amendments Deduction limit. Amendments For years beginning after 2001, the following changes apply to the SEP deduction limit. Amendments Elective deferrals (SARSEPs). Amendments Elective deferrals under a SARSEP are not subject to the deduction limit that applies to employer contributions. Amendments Also, elective deferrals are not taken into account when figuring the amount you can deduct for employer contributions that are not elective deferrals. Amendments Definition of compensation. Amendments Compensation for figuring the deduction for employer contributions includes elective deferrals under a SARSEP. Amendments More information. Amendments For more information about SEPs, see Publication 560, Retirement Plans for Small Business. Amendments 403(b) Plans Figuring catch-up contributions. Amendments When figuring allowable catch-up contributions, combine all contributions made by your employer on your behalf to the following plans. Amendments Qualified retirement plans. Amendments 403(b) plans. Amendments Simplified employee pensions (SEP). Amendments SIMPLE plans. Amendments The total amount of the catch-up contributions to all plans maintained by your employer cannot exceed the annual limit. Amendments For 2002, the limit is $1,000. Amendments Rollovers to and from 403(b) plans. Amendments If a distribution includes both pre-tax contributions and after-tax contributions, the portion of the distribution that is rolled over is treated as consisting first of pre-tax amounts (contributions and earnings that would be includible in income if no rollover occurred). Amendments This means that if you roll over an amount that is at least as much as the pre-tax portion of the distribution, you do not have to include any of the distribution in income. Amendments Years of service for church employees and ministers. Amendments If you are a minister or church employee, treat all of your years of service as an employee of a church or a convention or association of churches as years of service with one employer. Amendments Prior law required church employees and ministers to figure years of service separately for each employer. Amendments As a minister or church employee, all contributions made to 403(b) plans on your behalf, as an employee of a church or a convention or association of churches, are considered made by one employer. Amendments Foreign missionaries. Amendments If you are a foreign missionary, contributions to your 403(b) account will not be treated as exceeding the limit on annual additions if the contributions are not more than the greater of: $3,000, or Your includible compensation. Amendments More information. Amendments For more information about 403(b) plans, see Publication 571, Tax-Sheltered Annuity Plans (403(b) Plans). Amendments Later Change Deemed IRAs For plan years beginning after 2002, a qualified employer plan can provide for voluntary employee contributions to a separate account or annuity that is deemed to be an IRA. Amendments For this purpose, a qualified employer plan includes a deferred compensation plan (section 457(b) plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state. Amendments The term qualified employer plan also includes: A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan), A qualified employee annuity plan (section 403(a) plan), and A tax-sheltered annuity plan (section 403(b) plan). Amendments More information about IRAs can be found in Publication 590, Individual Retirement Arrangements (IRAs). Amendments Prev Up Next Home More Online Publications