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Deductions & credits
I'm using the desktop version of Turbo Tax 2021. I've entered my four children/dependents, one of which was born in August. However, when I look at line 19 on my 1040, I'm seeing a total of $6,000 ($2,000/dependent). For some reason, it's not calculating the addition of my child born this year which I'm guessing because they didn't technically live with me the entire year, since they were born in August. However, when talking to a CPA, I should be getting the full credit as long as he was born in 2021. This has been an issue in the past too, not sure why.
Also, based on the child tax credit for 2021 I would expect the credit to be $13,800 (3 under 6 and one 6). I've received $5,100 in ACTC.
Any insight would be greatly appreciated.
May 22, 2022
5:12 PM