We have 2 kids, Married Filed Jointly. Our AGI is ~192,000. We received $2100 in advanced Child Tax Credit (CTC) in 2021. Our kids are 15 and 13. We expected our CTC to be $6000 (with the new rule), minus the $2100 we already received. We were still hoping to apply the remaining $3900 towards our federal income tax owed. However, Turbo Tax is only applying $1900 remaining tax credit (noted on 1040 line 28).
Is there an income limit? For some reason I thought it was $ 400K.
