Question about AdvCTC

mdaghrir · ‎March 25, 2022

I'm filling a married joint return, and both I and my spouse received a 6419 IRS letter with each an amount of $750 for a total of $1500. We are claiming one child on our return and I don't understand why TurboTax Deluxe (Desktop) would claim only $1500 for the child tax credit instead of the $3000 despite the fact that the IRS indicated in the letter that we need to file a schedule 8812 to get the remaining credit. I selected the option to file 8812 on TurboTax but the Child Tax credit keeps only showing $1500.

Any advice?

DoninGA · ‎March 25, 2022

You already received one-half of the child tax credit, $1,500, as an advance in 2021. So on the 2021 tax return you can only receive $1,500 of $3,000 child tax credit.

The Child Tax Credit is entered on your federal tax return Form 1040 on Line 28. It is added to your other tax payments, it is not a separate refund. Your Total taxes from Line 24 are subtracted from your Total tax payments on Line 33. If you have an overpayment then that is entered on Line 34 as your federal tax refund.

View solution in original post

DoninGA · ‎March 25, 2022

You already received one-half of the child tax credit, $1,500, as an advance in 2021. So on the 2021 tax return you can only receive $1,500 of $3,000 child tax credit.

The Child Tax Credit is entered on your federal tax return Form 1040 on Line 28. It is added to your other tax payments, it is not a separate refund. Your Total taxes from Line 24 are subtracted from your Total tax payments on Line 33. If you have an overpayment then that is entered on Line 34 as your federal tax refund.