net-jms
Returning Member

Deductions & credits

2 kids, I (unfortunately) received the advance credits in 2021, and the kids are 16 and 17 now; were 15 and 17 on 12/31/21.  I did the "line 5 worksheet" from the IRS website and found that we hit the first phaseout.

 

As noted in my previous reply, the problem I have here is the help output on the desktop appliation which clearly states that the phaseout is at 400k for married filing jointly.  I included screenshots.  This is what led me to the assumption that the 4000 figure was incorrect.  Unless I'm completely reading that help output wrong, it seems that Turbo Tax needs to update this for 2021.