TT 2002 Child Credit


E

E Jones

Please help me with a Turbo Tax situation. I made a mistake in entering my
son's year of birth in my originally filed 1040. Due to the error, TT did
not mark him eligible for the child tax credit ($600). Now, I would like to
file a 1040X to amend my return, and show the $1000 child credit that is now
in effect due to the change in the law passed by Congress.

TT balks at overriding the $600 figure that is built in. Is is safe to
continue with the override, or shoud I just forget TT and file the amended
return by hand?

Thanks.

Earl
(remove both x's from my e-mail address)
 
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I

IraS1

Please help me with a Turbo Tax situation. I made a mistake in entering my
son's year of birth in my originally filed 1040. Due to the error, TT did
not mark him eligible for the child tax credit ($600). Now, I would like to
file a 1040X to amend my return, and show the $1000 child credit that is now
in effect due to the change in the law passed by Congress.

TT balks at overriding the $600 figure that is built in. Is is safe to
continue with the override, or shoud I just forget TT and file the amended
return by hand?
Turbotax doesn't want to let you override the $600 because that's all you're
entitled to.

The $1000 amount is for the 2003 tax year. Congress in its infinite wisdom has
decided to give us $400 early. The remaining $600 will appear on your 2003 tax
return filed next April.

Go ahead, file your 1040X to claim the $600 credit for 2002. You probably will
not receive the $400 check fot the advance payment of the increase (because you
didn't claim the child credit on your original return) and will have to claim
the full $1000 on your 2003 return.

Ira Smilovitz
 

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