Form 2555 negates child tax credit?
Moderator: Mark T Serbinski CA CPA
Form 2555 negates child tax credit?
I have heard it said in this form that using Form 2555 or 2555-EZ makes one ineligible for the child tax credit. Would someone please tell me in what IRS publication and on what page it says this?
Its not that 2555 negates the child tax credit, its just that you need income to ge tthe credit, and income that you exclude doesn't count towrds it.
So, excluding income by 2555 leaves you with too little income for the credit.
You can see this in the child tax credit Publication.
So, excluding income by 2555 leaves you with too little income for the credit.
You can see this in the child tax credit Publication.
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