Deductions & credits

The child tax credit (CTC) along with the additional child tax credit (ACTC) may both be on your tax return. The ACTC is a refundable credit, while the CTC is allowed to reduce your tax to zero but any balance is not refundable. 

Check line 28, Form 1040, to see if you have the ACTC or refundable portion listed. This may show the other portion and you should also see Form 8812 in your tax file (see steps below).

The stimulus payments are recorded under the Federal Review tab.  Be sure you selected the correct answer so that you can enter the payments you actually received. When you look at Preview My 1040 below, be sure to check out line 30, Form 1040, for the Recovery Rebate Credit, which is the reconciliation result for the stimulus not yet received (see steps and image below).  

By using the Tax Tools you can take a quick review of your 1040:

• To find Tools: 
  • Sign into your TurboTax account and open or continue your return. 
  • Select Tax Tools in the left menu. 
  • You'll find Tools beneath Tax Tools.
  • Select View Tax Summary
  • Select Preview My 1040 (left black panel)

In TurboTax Online, to claim the Recovery Rebate credit please do the following:

1. Sign into your account and continue from where you left off
2. Click on Federal in the left-hand column, then on Federal Review on the top of the screen
3. On the next page titled Let's make sure you got the right stimulus amount, click on Continue
4. Follow the interview 
5. TurboTax will determine whether you are entitled to any additional stimulus
6. Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.