The Child Tax Credit reported on line 28 of the Federal 1040 tax return is computed in two steps:
- First, you are given full credit for the Child Tax Credit based upon your 2021 income and the dependent information entered into your tax return, then
- Second, the benefit of the credit is reduced by the amount of any advance payments reported under Federal / Deductions & Credits / Your tax breaks / Advance payments, Child and Other Dependent Tax Credits at the screen Tell us about any Advance Child Tax Credit payments.
You are able to view the Child Tax Credit on line 28 of the Federal 1040 under Tax Tools / Tools / View Tax Summary / Preview my 1040 after each step.
Enter the information to generate the Child Tax Credit, then review line 28 of the Federal 1040 to see whether you have been given credit for the proper amount.
Then report the Advance Child Tax Credit payments received and reported on your IRS Letter 6419.
Review line 28 of the Federal 1040 to see whether you have been given credit for the proper amount.
