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Deductions & credits
@Tminey wrote:
I am in the same predicament. I believe I should be receiving an additional 3600 but it just subtracts what I get. One tax expert agreed with me when reviewing and stated to out I received zero in the advance which I wouldn’t do. When clicking for the explanation it reads as if I only should receive 3600 and that is a part of my tax liability and balanced out to zero. It does not read as if I qualify for a total of 7200. Is there a way to see form 1040 before I file?
The Child Tax Credit is entered on your federal tax return Form 1040 on Line 28. It is added to your other tax payments, it is not a separate refund. Your Total taxes from Line 24 are subtracted from your Total tax payments on Line 33. If you have an overpayment then that is entered on Line 34 as your federal tax refund.
You can view your Form 1040 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.