Child tax credit

[Rsykes]

Are we receiving the remaining child tax credit for 2019-2020 tax year in addition to 2021? Or is this all combined in the amount calculated?

[DoninGA]

The 2020 Child Tax Credit can only be claimed on a 2020 tax return.  The increased Child Tax Credit for tax year 2021 can only be claimed on the 2021 tax return.

[KochuK]

Hi Rsykes,

In general, each tax year is independent. There is no combining of child tax credit across different tax years.

For tax year 2020 (filed on 5/17/2021), the child tax credit can be $2,000 per qualifying child.

For tax year 2021(to be filed on April 2022), the Child Tax Credit is increased from $2,000 per qualifying child to:

• $3,600 for children ages 5 and under at the end of 2021; and
• $3,000 for children ages 6 through 17 at the end of 2021.

Please see below link Q C1 (Topic C question #1)

https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-t...

You would need to amend your Tax Year 2020 and/or Tax Year 2019 tax returns to claim the correct amount of child tax credit.

Hope this helps and thank you for posting the question.

[Rsykes]

Correct! So does this mean when we file taxes for 2021 we will receive an additional child tax credit for 2021 tax year (i.e. 2 dependents 5/6 yrs. old; $300 per child=$7200) you have already received half ($3600) does this mean you will receive the remaining $3600 plus your child tax credit for 2021 tax year? Just trying to gain clarity 

[KochuK]

Each child, depending on the age, if qualified, TOTAL child tax credit is $3,600 or $3,000. If you received "advanced child tax credit payments," then you get to claim the remaining half amount when filing your tax year 2021 tax return. 

Below link Q F10 explained various scenarios on this topic.

https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-t...