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Level 2
Mar 25, 2021 1:15 PM UTC
Question

CTC

My child turned 17 in Nov of 20. As I’m filling out my taxes, I’m only seeing a $500 CTC for her. Under the new rule for this year, I should be able to fully claim her up to $3000, right? I’m confused why the program isn’t allowing the full credit

2 replies

Alumni - Champ
Mar 27, 2021 3:32 PM UTC

The increased Child Tax Credit is not retroactive to 2020.   Rather, it takes effect with the 2021 tax year (returns filed in early 2022).

Level 2
Mar 27, 2021 9:47 PM UTC

So confusing. Thank you!