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Right. The Child Tax Credit on line 28 and the Recovery Rebate Credit on line 30 are included in the refund. They don't come separately. Follow the math on your return.
Yes, just as VolvoGirl says, look at the numbers.
Sometimes the "REFUND" lowers your tax due.
So let's say you would have owed 2,500, but you get 3,500 in credits, again lets say 1,500 for the remaining amount of your Child Tax Credit and 2,000 for the EIC, so 3,500 total in credits.
You get the credits, but since you still owed 2,500, the IRS takes your "refund" and applies it to the tax you owe. So in the example, you receive 1,000 as a final refunded payment.
Is CTC refund separate from federal refund, or CTC deducted from federal?
@Mike1977 wrote:
Is CTC refund separate from federal refund, or CTC deducted from federal?
The Child Tax Credit is entered on your federal tax return Form 1040 on Line 28. It is added to your other tax payments, it is not a separate refund. Your Total taxes from Line 24 are subtracted from your Total tax payments on Line 33. If you have an overpayment then that is entered on Line 34 as your federal tax refund.
You can view your Form 1040 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
No your child tax credit is not a separate refund. If you are getting CTC it is already part of your refund shown on line 35a.
Federal>Deductions and Credits>You and Your Family>Child Tax Credit
The IRS is sending out letter 6419 to you. It will show the amount of advance child tax credit that you received during 2021. Enter the information from that letter carefully.
The remaining amount of CTC that you can receive will show up on line 28 of your 2021 Form 1040. Then it will calculate down to the refund you see on line 35a or the tax due on line 37.
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
NOTE: The CTC is indeed a “credit” that can be applied toward any tax liability that you would otherwise have to pay as “tax due” to the IRS.
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