I was doing a comparison between my 2020 Turbo tax PDF all documents and 2021. The first page of both has the Federal Tax return summary. The Summary for 2021 is not factoring in the Child tax credits so it looks like I am paying more in taxes that I did and it inflates the effective tax rate.
2020 has the Tax credits included in the line for Total Tax
2021 does not include the credits in Total Tax and instead includes them in the Total payments and credits.
But this is not the same. The child tax credit brings down the total amount of taxes I am actually liable for.
In addition, the program should factor in the amount of the credit I already received in early payments. It needs to reflect the actual tax liability including credits.
