Okay--you are confusing two different credits. Are you trying to ask about the child and dependent care credit----the one for paying someone to take care of your child so you can work? There were no advance payments for the childcare credit.
Are you asking about the child tax credit? That is the one for which advance payments went out during July to December, and for which you would have received IRS Letter 6419.
TurboTax calculates your remaining child tax credit correctly if YOU enter your information correctly. And many people have been confused and look on the wrong line for the amount they are getting.
Federal>Deductions and Credits>You and Your Family>Child Tax Credit
The IRS is sending out letter 6419 to you. It will show the amount of advance child tax credit that you received during 2021. Enter the information from that letter carefully.
The remaining amount of CTC that you can receive will show up on line 28 of your 2021 Form 1040. Then it will calculate down to the refund you see on line 35a or the tax due on line 37.
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
NOTE: The CTC is indeed a “credit” that can be applied toward any tax liability that you would otherwise have to pay as “tax due” to the IRS.
And.....if your income is too high then your child tax credit is phased out----so consider that possibility. We cannot see your return so we do not know how much your 2021 income was.
Q C2. Can my Child Tax Credit amount be reduced based on the amount of my 2021 income? (added June 1...
A2. Yes. The Child Tax Credit phases out in two different steps based on your modified adjusted gross income (AGI) in 2021.
The first phaseout can reduce the Child Tax Credit to $2,000 per child.
- That is, the first phaseout step can reduce only the $1,600 increase for qualifying children ages 5 and under, and the $1,000 increase for qualifying children ages 6 through 17, at the end of 2021.
The second phaseout can reduce the remaining Child Tax Credit below $2,000 per child.
For additional information on the amounts of modified AGI that reduce the 2021 Child Tax Credit, see Q C4 and Q C5, below.
Q C4. How does the first phaseout reduce the 2021 Child Tax Credit to $2,000 per child? (added June ...
A4. The Child Tax Credit begins to be reduced to $2,000 per child if your modified AGI in 2021 exceeds:
- $150,000 if married and filing a joint return or if filing as a qualifying widow or widower;
- $112,500 if filing as head of household; or
- $75,000 if you are a single filer or are married and filing a separate return.
The first phaseout reduces the Child Tax Credit by $50 for each $1,000 (or fraction thereof) by which your modified AGI exceeds the income threshold described above that is applicable to you.
**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.**
