Deductions & credits

In January you  are going to receive a letter 6419 from the IRS that shows how much of the advance CTC payments you received.   You will enter that information into the software carefully and accurately.   Based on the dependents you are claiming ON YOUR 2021 tax return, it will reconcile the amount of CTC you can still receive.  Watch line 28 of your Form 1040.

 

Make sure you have entered your newborn child as a dependent in My Info, and that you have entered the child's Social Security number. If your child was born in 2021make sure you said he lived with you the whole year.  There is an oddly worded question that asks if the child paid over half their own support.  Say NO to that question.

**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.**