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Video instructions and help with filling out and completing Form 1040-X vs. Form 1040 Schedule 8812

Instructions and Help about Form 1040-X vs. Form 1040 Schedule 8812

Welcome to tax teach i hope you're all having a great day my name is sean i'm a certified public accountant specializing in taxation today i want to talk about how to fill out schedule 8812 the child tax credit schedule now you need to fill out the schedule in order to receive the child tax credit which can be as high as 3 600 if you have children 5 and younger or if you have children that are older than 5 so 6 to 17 you can get up to 3 000 for the 2022 tax year so without further ado i'm going to get into how to fill out the child tax credit schedule 8812. all right here's schedule 8812 credits for qualifying children and other dependents and in this example i'm going to assume the taxpayer jane doe is a single mother of two children one child being the age of five and one child being the age of eight so with that fact pattern i'm going to go over how to fill out this schedule so let's get into it part one dash a child attachment other credit for other dependents line one enter the amount from line 11 of your form 1040. this is your adjusted gross income and for this taxpayer we're going to assume that there was 50 000 worth of adjusted gross income for the year lines 2a through 2d relate to if you worked overseas throughout the year there's a little bit more complexity to calculating the child tax credit if you did work overseas throughout the year i'm not gonna go over this case in this example i'm gonna assume that the taxpayer lived the united states throughout the whole year and didn't make any income overseas now it's okay...

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