Child Tax Credit payments

Forum|Forum|4 years ago
February 25, 2022
9 replies
29 views

On my 1040 that I filed for this year I erroneously put $3,000 received in the above payments when in fact we only received $1,500. I am trying to amend this on 1040-X now by reflecting the $1,500 received by us on letter 6419 but when I add this to amendment it now shows me owing $1,500 in tax instead of a refund of $1,500. I am guessing that because on original 1040 I put $3,000 instead of $1,500 on line 28 - How can I get this corrected?

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DaveF1006

Level 15

Yes, that is correct. You originally overstated your benefit by $1500 and you received the benefit of an extra $1500 credit on your original return. With the amendment, you have to pay that back. As a result, your tax due of $1500 on your 1040X is correct.

Your amended return is the correction needed because you are paying back the $1500 that was originally credited on your original return

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Bill7550Author

Level 2

I have already received my return back from IRS for this year but only got $144 not $1,644 that I had on my 1040 - they did not give me the $1500 on the child tax credit that was why I tried filing the 1040-X to get the additional $1,500 on child tax credit that we still are due refund on - do I need to amend the 1040 to change my child care credit to 1,500 instead of $3,000 where I can get the credit? Can I do this on the 1040-X?

Thank you

DaveF1006

Level 15

@Bill7550 To clarify, did you receive half of the Advanced Child Care Credit already? Also was your child under 17 in 2021 and did he/she qualify to be your dependent on the tax return?

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