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Child Tax Credit versus Additional Child Tax Credit?
I have 2 children and in 2020, Turbo Tax showed a Child Tax Credit of $4000 (I assume $2000 for each child). But in 2021, Turbo Tax labeled this as "Additional Child Tax Credit" with $4500 (and Child Tax Credit of $0). I don't know why the child tax credit is listed differently between 2020 and 2021 ? Did I do something wrong in Turbo Tax H&B? Ages of fully dependent children at the end of 2021 are 13 and 17.
Questions are:
- is this expected / normal for 2021?
- we received the Covid relief money in 2021 (3 or 4 times) ... how did that affect my taxes? I did not receive a tax form for that money I received. should I have received a tax form for that money I received?
Thanks, Rob
Topics:
March 8, 2022
7:53 AM