Schedule 8812, which can be found on Form 1040, is used to evaluate the additional repayable credit recognized as “the additional child tax credit.” For instance, if your tax liability is zero or less than the account balance, you cannot claim the entire $2,000 child tax credit. However, by having completed IRS Form 8812, you may be eligible for the additional child tax credit. When you fill the Form 8812 you can see form 8812 line 5 worksheet on the form. So what is the meaning of it? It means that I you have more than zero qualifying children under the age of 18 who have a social security number, you should express on line 5 worksheet for irs form 8812.If you don’t have you can write zero on the form 8812.
We added printable form of 8812 so you can easily download and save it to the computer. It is so easy to fill the form. You can follow the tips and clues about how to fill out form 8812 then you can finish it as soon as possible.
Form 8812 2021 Printable
You can find the attached file of form 8812 and see the extra details about irs form 8812 line 5 worksheet. When anyone fill the form who has more than zero qualifying children with social security number how I fill this section properly and unmistaken. Firstly You find the line 5 worksheet on the form 8812.You follow the steps on table:
Line 5 Worksheet
|Divide $3,600 by Schedule 8812, line 4b… (Multiply the number of children under the age of 6 by 3,600 USD)|
|Divide the total Schedule 8812, line 4c, by $3,000…( First subtract the children under the age of 18 from the children under the age of 6, then multiply by 3,000 USD)|
|You add Line 1 and Line 2 (You can see the explanation on Form 8812)|
|Divide $2,000 by Schedule 8812, line 4a… (Multiply the number of children under the age of 18 who require a social security number by 2,000 USD)|
|Line 4 is deducted from line 3..(You can see it on the form 8812 attached here)|
|For your filing status, calculate the information shown below:
· Married filing collectively — $12,500
· Eligible widow(er) — $2,500
· $4,375 for the household
· Include all filing statuses — $6,250
|Access the shorter of lines 5 and 6…(Enter the minimum quantity)|
|Calculate the information for your filing status as seen below:
· Married filing collectively or Eligible widow(er) — $150,000
· Head of household — $112,500
· All the other filling things – $75,000
|Deduct line 8 from Schedule 8812, line 3.
· If the result is zero or less, enter -0-
· If the number is greater than zero but not a multiple of $1,000, enter the next multiple of $1,000.
|Line 9 is multiplied by 5%. (0.05)…(You see line 9 on the form 8812)|
|Access the minimum line 7 or line 10|
What is the Importance of Filling Line 5 Worksheet on Form 8812?
Form 8812 means that additional child of tax credit. So when you fill this form you must express your children status and your family status currently. If you don’t fill 2021 form 8812 line 5 worksheet you cannot take needed benefit. Indeed, you must fill this part on the form 8812, because in this tax form you also have to protect the rights of your children and dependents.