Child tax credit error

[Ireallyliketoski]

Hey all,

I have 3 children that qualify for either 4,200 in child tax credit and received 2875 in ACTC payments in 2021, when enter the 1,438 for my spouse and I my tax (2876 total) my tax due goes from 980 to 3,856 and it says I was overpaid and get no child tax credit..  Shouldn't I get a 1,3233 credit here (4200-2876)?

Any thoughts what's going on here?  I'm stopping my return at this point to see what the heck is going on.

Thanks,

Rob

[VolvoGirl]

4,200 would be for the 3rd Stimulus payment 1,400x3 not the Child Tax Credit.   Two different things.   Check line 28 for the missing Child Tax Credit.

Did you get any of the third Stimulus payment?  Are you married?  It should be $7,000 (1400x5).  If you didn't get the full amount it will be on line 30.

So how much is on lines 28 & 30?

[VolvoGirl · Accepted solution]

Also Turbo Tax started out giving you the full amount as soon as you entered your children.  So your refund was too high to start.  Then later you enter what you already received so it subtracts out what you already got.  Same for the Stimulus payment.

And the Child Tax Credit for 3 is 9,000 or more. The new Child Tax Credit for 2021 raises the cut off age from 17 to 18 and makes the credit $3,000 (3,600 for a child under age 6).  Check 1040 line 28 for it.

[Ireallyliketoski · Accepted solution]

I never qualified for any stimulus relief, just the ACTC, so the math worked out basically like in 2020 I made less money and then was paid out at that rate, then made more money in 2021 so now I don't qualify for as much, line 28 in 2021 is only 800.   2020 tax return had line 19 at 5,750, so it seems like I fall into the here's your advanced payments now pay them back and you get less credit in 2021 because my income is too high now, worse problems to have I suppose.