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For Advanced Child Tax Credit payments, how much will families receive for children that turn 6 in CY2021? $330/month or $250/month?

 
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2 Replies

For Advanced Child Tax Credit payments, how much will families receive for children that turn 6 in CY2021? $330/month or $250/month?

The credit is based on the child's age as of 12/31/21 ... there is no 1/2 year calculations.  So if the child will turn 6 anytime in 2021 the credit for them is only $3000.  Thus the advance credit is 1/2 of the $3000 = $1500 divided by hopefully 6 months = $250

For Advanced Child Tax Credit payments, how much will families receive for children that turn 6 in CY2021? $330/month or $250/month?

@Critter-3, is right on the money here.  Below is a link that will provide some more information re the credit.

 

Hope this helps.

 

https://turbotax.intuit.com/tax-tips/family/what-is-the-additional-child-tax-credit/L4IBvQted#:~:tex....

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