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Rockboy11J
Returning Member

Advanced child tax credit

I did not receive the Advanced child tax credit payments the last four months of 2021. The IRS stated that I could claim the payments on this years return. I do not claim my daughter this year, and while using the purchased Turbo Tax disc I do not see an option to receive the tax credits on this years return. What am I missing?

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2 Replies

Advanced child tax credit

I am confused.   You say you will not be claiming your daughter for 2021.   So why are you expecting to get the child tax credit?    If you are not claiming the child on your tax return, you might even have to pay back the advance payments you received last year.   You only get more child tax credit on your return if you are claiming your child.    You are required  enter the amount you received.

 

Go

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

 

 

TurboTax calculates the Repayment Protection.  This determines if a person is required to repay the advance CTC.

 

What is Repayment Protection?

Repayment protection is an income-based program that reduces the amount of excess advance Child Tax Credit payments you have to repay.

 

Full repayment protection equals $2,000, multiplied by the following:

  • The number of qualifying children that the IRS took into account when estimating your advance Child Tax Credit payments, minus
  • The number of qualifying children you’re claiming on your 2021 tax return.

To be eligible for full repayment protection, your adjusted gross income (AGI) for the 2021 tax year must be at or below the following:

  • $60,000 if you are married and filing a joint return or if filing as a qualifying widow or widower;
  • $50,000 if you are filing as head of household; and
  • $40,000 if you are a single filer or you are married and filing a separate return. 

 You won’t qualify for any repayment protection if your modified AGI is at or above the amounts listed below based on the filing status on your 2021 tax return.

  • $120,000 if you are married and filing a joint return or if filing as a qualifying widow or widower;
  • $100,000 if you are filing as head of household; and
  • $80,000 if you are a single filer or are married and filing a separate return.

For information on the definition of modified AGI, see Topic C: Calculation of the 2021 Child Tax Credit. 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Rockboy11J
Returning Member

Advanced child tax credit

i was eligible when i filed last year,because it was my year to claim my daughter, but I  never received the advanced payments. Thank you for your input i discussed it with a Turbo tax rep via phone and got it cleared up.

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