Advance child credit repayment

[Celsojim]

I got some advance payments from the child care credit . I want to pay it back because I no longer qualify to claim the child . My question is will there be question on the turbo tax app where it’ll ask me about these payments and either allow to pay the penalty or take the amount from my return ?

[xmasbaby0]

Yes you will be asked.  Repayment will depend on your AGI and on whether you are claiming a child on your 2021 return.

Federal>Deductions and Credits>You and Your Family>Child Tax Credit

The IRS is sending out letter 6419 to you.  It will show the amount of advance child tax credit that you received during 2021.  Enter the information from that letter carefully.   The remaining amount of CTC that you can receive will show up on line 28 of your 2021 Form 1040.

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

[Celsojim]

Thank you so much so if I owe because I don’t have a qualifying child it’ll be taken from there ? Or I’ll be able to pay it on there and won’t have to do anything else right ? Thank you 

[Cynthiad66]

Depends.  If you are receiving a refund at the end of preparing your return then there is nothing else for you to do.  However, there may be a balance due because of the Advance Child Tax payments you no longer qualify for.  You  can pay when filing or make arrangements with the IRS to pay the balance due.