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We do not owe anything to the IRS for taxes. There was nothing we had to pay in, just a refund. If you mean taxable income, together my husband and I make $63,000 annually and I withhold a fair amount of tax from my paycheck not to the point I can't survive. He's retired and I am working. I can't imagine owing taxes to the point it drains the whole $8400. Nothing explains why we only received ONE advanced ctc the IRS portal said eligible and then to go back to pending status the next month and the rest of the year.
We got one payment in Sept. Nothing in July or August because our amended tax from 2020 was still being processed. I amended because I thought I had to cause Turbo tax sent the email about amending since we already filed our 2020 taxes before the American Rescue act took affect. I'm starting to think the IRS is saying we were only eligible for one month of advanced ctc but not the rest of the year even though our amended 2020 taxes was complete otherwise we wouldn't have gotten a dime. Nothing changed, income was the same, bank direct deposit the same, none of us opted out, kids were still 9, 5 and 17 the remainder of the year. And I think the IRS assumed we got the rest of the money but we didn't and so credited the $8400 to what I don't know. All I know is that we didn't get the rest of our money and I can't find anywhere online of anyone on the same boat as us. The news said people would get the rest of the advanced ctc when they file their 2021 taxes. Well we didn't get ours so I think the IRS really screwed us.
And also I was one of the people that was apart of the unemployment $10,200 exclusion. I did receive a credit for that at least. In the form of actual money direct deposit into my bank, not like the advanced ctc where credit is just a credit not money showing up in my bank account.
Once again-----follow the math. The whole $8400 was not "drained" because you say you are getting a refund of over $5000.
YOUR own words from above......
"...... my refund on line 35a of $5,383. ...."
SOME of the $8400 was used to pay tax due that you owed for some reason. The amount that had to be subtracted from your $8400 child tax credit will come AFTER line 28. When a particular line tells you to add some lines together---DO that and check it against the tax form. We can do no more here. If you need real-time help to follow the calculations from line 28 down to line 35a please call customer support.
To call TurboTax customer support
https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
Customer support is available from 5 a.m. to 9 p.m. Pacific time daily
What I meant was, make sure you are eligible for the 2020 unemployment deduction of $10,200.
If you are not eligible your amendment will be denied.
I figured you would accept xmasbaby0 explanation of how your child tax credit was handled.
Sorry for any confusion.
What do you have for line 34? What as the total of your return for 2021?
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