Child Tax Credit

[Passionfruit]

Hello. I’m starting to file my 2021 taxes and we’re having an issue with the amount of the ctc showing up. We qualified to receive $9600 for 1, 5yr old and 2, 9yr olds at the time last year. Why is it only showing that we’re only receiving $6300 instead of the $9600 on our taxes? Haven’t submitted yet either.

[VolvoGirl]

Did you already get some advance payments?  

[Critter-3]

And how much did you get in advance ?   

And the credit has to pay off your federal tax bill before it becomes part of the refund you see ... review the return ... did it get used to pay off the tax bill ?  

[xmasbaby0]

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.

NOTE:   The CTC is indeed a “credit” that can be applied toward any tax liability that you would otherwise have to pay as “tax due”  to the IRS.

[Passionfruit]

It shows that they sent out one payment in July but I never received it. But at the same time I did opt out from receiving any and it was updated on July 28th.

[Passionfruit]

I figured it would be used to pay any federal tax due but shouldn’t it still show that we are receiving the full amount we we’re eligible for which was $9600 instead of $6300?

[xmasbaby0]

What do you see on line 28?

[Passionfruit]

It shows $6300 on line 28.

[Critter-3]

Ok ... now review the form 8812 ... was it limited due to your income ? 

[xmasbaby0]

There is a phase out if your AGI is above $150K on a joint return.

[Passionfruit]

form 8812 which is line19 is empty.

[Passionfruit]

Our combined income for 2020 was $148,500 which is why we got the full amount we were eligible for, $9600.

[xmasbaby0]

Explain again the ages of your kids at the end of 2021----that is the age that determines the CTC.  How many under the age of 6 at the end of 2021?   Three children all together?

Did you enter all three in My Info?

Make sure you have entered your child as a dependent in My Info, and that you have entered the child's Social Security number. If your child was born in 2021make sure you said he lived with you the whole year.  There is an oddly worded question that asks if the child paid over half their own support.  Say NO to that question.

And again---are you looking at line 28 or are you looking at your refund on line 35a?

[Critter-3]

Form 8812 ... what is on lines 12, 14f & 14i ?

[Passionfruit]

Last year one child was 4 and two were 9 (twins), 3 kids total.   And yes I’m looking at line 28.