On my 2020 tax return, I received 6000 child and dependent care credit. We only received 1500 in payments this year in advance, but turbotax has a $0 in the 2021 filing. Have I entered something wrong or is there an explanation
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The child tax credit is fully refundable for tax year 2021. It shows on a different line of Form 1040.
To check if you are getting the right amount:
Apparently I clicked something wrong. I fixed it. Thanks for the reply. It made me go back through it.
Since I have you here, has anyone else mentioned something like this? The IRS gave both me and my wife a AdvCTC form with $1500 on it, but we only received a total of $1500 for the year? Turbo tax adds the two to a total of 3000.
Normally the IRS was paying half the credit as advance payments, so if your credit is 6,000 (two children?) the advance payment should have been 3,000, or 1,500 each.
Double check your accounts to see what was received. There have been reports of errors on the letters, but very few.
You might also check the IRS Your Online Account to see the latest that the IRS has on file for you.
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