Having Problems with Child Tax Credit

[DoninGA]

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@dmathes01 wrote:

The problem is turbo tax software is subtracting the child tax credit twice instead of once! I looked at my tax return last year and it's not calculating correctly because it's not putting the tax credit in the correct line (19).  Once they fix the software you will get the correct return. 

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The Child Tax Credit on a 2021 tax return is shown on the Form 1040 Line 28.

[Akasha]

Yeah there is definitely something wrong here.  Instead of the reps arguing about it,  they could actually look into it. This issue is affecting multiple people,  not just one.  I could understand one person entering incorrectly but when it's a entire group of people,  it warrants an investigation.  They should look into why it's doing this. 

[DoninGA]

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@dmathes01 wrote:

It's not taking our credits and subtracting it from our taxes! It's subtracting from our refund. Fix the problem. I compared my taxes this year from last year I made the same and have a bigger child tax credit but I got $7000 less and almost have to pay now! Something is not working right! 

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Did you receive any advance child tax credits in 2021?  If so, when you reported those credits it reduced the amount of child tax credits you can receive on the 2021 return.  Look at your federal tax return Form 1040 Line 28 for the child tax credits you are receiving.

[dmathes01]

I did but on my 1040 line 19 where my 8812 should be it has an 0 their when it should have my child credit, like last year. With that not being correct line 24 should have an 0 or a lower number but it doesn't it has $8400 instead. Causing my tax return to be low! 

[DoninGA]

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@dmathes01 wrote:

I did but on my 1040 line 19 where my 8812 should be it has an 0 their when it should have my child credit, like last year. With that not being correct line 24 should have an 0 or a lower number but it doesn't it has $8400 instead. Causing my tax return to be low! 

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The Child Tax Credit for tax year 2021 is not a nonrefundable credit so it will Not be entered on Line 19.  The Child Tax Credit for tax year 2021 is entered on Line 28.

[dmathes01]

Yes it does go there!!! 

Go to line 19 it's says non-refundable child tax credit or credit for other dependents from schedule 8812!!! 

The IRS say anybody receiving child tax credit need has a schedule 8812!!! 

How I know this any y'all don't? 

[dmathes01]

[xmasbaby0]

@dmathes01

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.

[DoninGA]

@dmathes01 Go to this IRS website for a Fact sheet for 2021 Child Tax Credit FAQ's - https://www.irs.gov/pub/newsroom/fs-2022-06.pdf

A1. The Child Tax Credit is a fully refundable tax credit for families with qualifying children.

[VolvoGirl]

@dmathes01   Scroll down your form.  What's on line 28?  You get the whole amount there.  Which is better since you can get more on line 28 than just reducing the amount of tax on line 18 to zero.  

[dmathes01]

That's the problem line 18 isn't zero! It's 8437 when it should be payment of 2663! Software is messing! I did a step-by-step comparison of last year and it's missing that part! 

[VolvoGirl]

Oh sorry I didn't mean that line 18 should be zero.  The tax amount on line 18 could only be reduced to zero by subtracting line 19.   Then line 22 would have the zero on it.   But it doesn't work that way this year.   Instead of your Child Tax Credit being used to reduce line 18 you get it it on line 28 now.  Which can use more than just the 8437. 

Say your Child Credit is 9,000.  You only could use up 8437 to reduce line 18 to zero.  You would lose the remaining 563.  But on line 28 you get to subtract the full 9,000.    So again...What's on line 28?

[dmathes01]

Why on line 19 does it say put here your 8812? That's from the IRS

[dmathes01]

Line 28 is  11100

[DoninGA]

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@dmathes01 wrote:

Why on line 19 does it say put here your 8812? That's from the IRS

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That is for the NONREFUNDABLE credit from Schedule 8812.  As has been posted several times, for tax year 2021 the Child Tax Credit is a REFUNDABLE credit on Schedule 8812 so is entered on Line 28 of the Form 1040.