Hello there! We both received an initial "advance payment" on the Child Tax Credit of $83.50 each (Married, filing jointly).
Our son was 13-14 during tax year 2021.
From my "more info" clicks, I had thought the tax credit went from 2000 to 3000 for that age range. I am not sure as I have not yet looked at the "guts" of my return (just the guide-me's) but it appears it was set to $2000 (from what read BUT IT WAS LATE - I ADMIT I MIGHT HAVE MISREAD lol), minus adv payments and caps based on income.
Normally, I do not have much impact on the cap since we file jointly and I am sole-income. However, in 2021 my company sold our part of the business to another company. This triggered an extra bonus (decent) and made all our non-vested RSU (restricted stock units) vest at once. This doubled my salary. I read that every $1,000 over the max full benefit number results in -$50.00 from the benefit. It was really late night, it's all a blur and I am trying to work in addition to completing these. Could anyone tell me:
1. What is the max benefit based on 13-14yo. 2,000 or 3,000?
2. What is the upper limit in income where you still get max credit amount?
3. Where do I look for this number - like which Turbo Tax screen or underlying document name/box to verify?
Thanks!
