This advance payments you receive will be reconciled against your credit on your 2021 tax return. It appears you will have excess child tax credit amount to claim on your 2021 tax return.
When you file your 2021 tax return during the 2022 tax filing season, you will need to compare:
- The total amount of the advance Child Tax Credit payments that you received during 2021; with
- The amount of the Child Tax Credit that you can properly claim on your 2021 tax return.
Excess Child Tax Credit Amount: If the amount of your Child Tax Credit exceeds the total amount of your advance Child Tax Credit payments, you can claim the remaining amount of your Child Tax Credit on your 2021 tax return.
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