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I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

I got $3000 advance for two qualifying dependents, but when filling out the info in TurboTax it doesn't give us the remaining $3000.
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6 Replies

I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

You will get a letter 6419 from the IRS that shows how much was sent to you for the advance child tax credit payments.   Enter the information VERY carefully.   The rest of the child tax credit that you can get will show up on line 28 of your Form 1040.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

The rest of the CTC is not always all refundable ... it will negate your taxes first and then the rest is added to the refund.  Look at the actual form 1040  & 8812   to see what is happening ... 

 

 

You can peek at only  the Federal form 1040 and the summary of the state info by going here:

1) lower- Left side of the screen...click to the left side of the "Tax Tools" text selection.
2)  then select "Tools"
3) then select "View Tax Summary" from the pop-up
4) then back to the left-side and "Preview 1040"

Then hit the "Back" on the left side to get back to your tax entries.

To view your entire return using the online editions (including the state) before you file, you will need to pay for your online account.

 

To pay the TurboTax online account fees by credit card, without completing the 2021 return at this time, click on Tax Tools >>> Tools  and then Print Center.  Then click on Print, save or preview this year's return.  On the next page, to pay by credit card, click Continue.  On the next screen it will ask if you want Audit Defense, if you do not want this option just click on the Continue button.  The next screen will ask for all your credit card information so you can pay for the account.

 

 

I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

Right, I did all that. And according to the letter I should still be receiving the rest. Not sure. 

I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

Thanks for the help! I'm not quite sure why I'd be owing still even with the $3000 we're supposed to get. Last year we received a $1500 refund.

I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

See 1040 Line 28 for the rest of the Advanced Child Tax Credit.

ThomasM125
Employee Tax Expert

I got my advance payments for the Child Tax Credit from the IRS, but now it's not showing the remaining in TurboTax. I thought the IRS sent half and I still get the rest?

You need to look at the entries from line 24 to 31 on your tax return form 1040. Then compare them to the same lines on last year's tax return. On these lines you will see your Total Tax (line 24) and the deductions from that tax (lines 25 to 32.) That is where you will find the difference between this year and last year, and that may explain why you owe taxes this year.

 

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