Why is it not giving me the other $1500 for the child tax credit?

Forum|Forum|4 years ago
January 30, 2022
2 replies
46 views

No text available

TurboTax Deluxe Online

xmasbaby0

Level 15

The "refund monitor" starts off by giving your all of the stimulus money and all of the child tax credit because the software does not know yet that you received stimulus money or that you received some advance child tax credit payments. That gets reconciled later.

That "refund monitor" changes as you enter information. That is normal. And you cannot take it seriously until you enter ALL of your information---even though it is so tempting to believe that the highest amount is the "right" refund.

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.

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.

**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.**

systemflatline02Author

Level 2

I got to the end where I file. I received $1500 in advance child tax payments in 2021. I entered that information where it asked for it. My return at the end (total) is just under $1500. That's just my normal return from my income from my job---the quick math will tell you that I'm obviously NOT getting the other half of it on this tax return. It is not adding the other $1500 (the other half of the $3,000) to it but if I go back and say that I did NOT get the advance payments, it adds the $1500 to my return. Seems to me to be a software glitch. How does it know I'm owed the other $1500 (and not the full $3,000) when I enter that I didn't receive advanced payments? If I file without claiming the advanced payments, I'm sure there will be issues down the road with that. All I know is that I'm owed the other $1500 and your software seems to think I don't.

DoninGA

Level 15

@systemflatline02 wrote:

I got to the end where I file. I received $1500 in advance child tax payments in 2021. I entered that information where it asked for it. My return at the end (total) is just under $1500. That's just my normal return from my income from my job---the quick math will tell you that I'm obviously NOT getting the other half of it on this tax return. It is not adding the other $1500 (the other half of the $3,000) to it but if I go back and say that I did NOT get the advance payments, it adds the $1500 to my return. Seems to me to be a software glitch. How does it know I'm owed the other $1500 (and not the full $3,000) when I enter that I didn't receive advanced payments? If I file without claiming the advanced payments, I'm sure there will be issues down the road with that. All I know is that I'm owed the other $1500 and your software seems to think I don't.

Look at your Form 1040 Line 28 for the child tax credit. That amount is included in your tax refund or it has reduced the amount of taxes owed.

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.

den16

Level 2

I was concerned about this as well since it only showed $3000 for my 2 kids. Go into forms on Turbotax and find Schedule 8812 and you'll see why the number is $3000 instead of $6000. So it is correct if I'm understanding correctly, but annoying when Turbotax shows the side-by-side comparison from last year and only includes the $3000, rather than the $6000 which would be the total of the advance payments and the $3000 applied when filing. Very confusing.

KrisD15

Level 15

The program is telling you what is on the 1040.

if you received advance payments, those will not be on your 1040, only the remaining amount as a credit will be.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

omariec85

Level 2

I only claimed and received credit for 1/3 of my CTC. Yet, Turbo Tax was calculating my return as if i had received 2/3 of the CTC. I contacted Turbo Tax and they acknowledged there was a discrepancy in their softwares calculations and have since opened an investigation. I’m also looking into previous years returns as I recall having a similar issue that went unresolved.