Child tax credit
posted at 12/5/2013 3:28 PM EST
How many years do we have to claim these? I was told it was three retroactively (so, when I file in April 2014, I can back-date to 2010), but the person who told me, while a parent, is not a CPA.
Re: Child tax credit
posted at 2/20/2014 3:07 PM EST
You may only claim a credit in the year in which you have paid expenses that qualify for the credit for a child or dependent who also qualifies for that year. If you missed claiming the credit in the original return filed for the year of the expense, you have three years from the filing of the return to amend that return to make the correction to claim the credit you could and should have claimed in that year.
Hope this answers your question and helps in preparing your return.
Mark H. Misselbeck, C.P.A., M.S.T., Tax Prinicipal
Katz, Nannis + Solomon, P.C.