I need a child tax credit worksheet. I have three kids, but one of them I share custody with my ex-wife. Another complication is the fact that the oldest is still a dependent, I think, because he is only fifteen, but we would not make the monthly bills meet if he did not work two jobs on top of his school load. So I am kind of dependent on him. Combine all this with all the new tax laws, and I am in seriously over my head if I do not have the right child tax credit worksheet to work with. But, I do know of a website that has the newly revised worksheets, based on all the current laws, rules and regulations, so I am going to print of them out and use it. Actually, I may print five out, I know I will make mistakes the first few times.
I know that there is a child tax credit worksheet that needs to be filled out when we file our taxes this year, but I do not understand the ins and outs of it. I know that the credit is 1000 dollars per child and at some point it begins to go down if you make too much money. We actually just had our daughter in March so this will be the first year that we get to claim her on our taxes. I have always done my own taxes because they were pretty straightforward, but this year it will all be different. So I decided to use some tax software that will help me out with the process. I am just unsure of the benefits of filing jointly and separately, so I am going to look into it further before I decide what to do with this year’s taxes.