I received the advance tax credit but my refund amount does not seem to reflect the remaining which if I understand is $3000 per child ages 6-17

[xmasbaby0]

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.

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.

And…..Ignore that “refund monitor.”  The software STARTS OFF by giving you the full amount of CTC.   When you enter the amounts from your letter, the software reconciles the amount you received with the amount you can still get IF you are eligible to get the other half.     You are NOT losing any of the credit; you are not being taxed on the credit.  Don’t get confused by the reconciled amount.   You got some of it already—-now you get the rest.

 If you received the advance payment and are NOT eligible to get the other half, then it will not show up on line 28.  (Such as in some cases where the wrong parent got the advance payments, etc.)

That “refund monitor” should not be taken seriously until every last morsel of your data has been entered.

[ColeenD3]

The child must not have reached age 17. 

If you had a child born in 2021- Add them under My Info. You need to answer 2 questions…..

Did your child live with you for the whole year? Answer YES even if they were born late in the year (even on Dec 31).

Then was at least half of the child's expenses paid by CHILD? Usually is NO.

Check 1040 lines 19 and 28 and Schedule 8812 for the Child Tax Credit.   It may have been added before you noticed or got to that section.

[xmasbaby0]

For tax year 2021 ONLY, the age limit to receive the child tax credit changed to under 18.   It has always been under 17 in past years and will change back to under 17 for 2022 unless Congress changes the law again.

Q B3. Who is a “qualifying child” for purposes of the 2021 Child Tax Credit? (updated January 11, 20...

A3. For tax year 2021, a qualifying child is an individual who does not turn 18 before January 1, 2022, and who satisfies the following conditions:

1. The individual is the taxpayer’s son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them (for example, a grandchild, niece, or nephew).
2. The individual does not provide more than one-half of his or her own support during 2021.
3. The individual lives with the taxpayer for more than one-half of tax year 2021. For exceptions to this requirement, see IRS Publication 972, Child Tax Credit and Credit for Other Dependents PDF.
4. The individual is properly claimed as the taxpayer’s dependent. For more information about how to properly claim an individual as a dependent, see IRS Publication 501, Dependents, Standard Deduction, and Filing Information. PDF
5. The individual does not file a joint return with the individual’s spouse for tax year 2021 or files it only to claim a refund of withheld income tax or estimated tax paid.
6. The individual was a U.S. citizen, U.S. national, or U.S. resident alien. For more information on this condition, see IRS Publication 519, U.S. Tax Guide for Aliens. PDF