When inputting the Child Tax Credit for the first payments, How do we get the other half $1800 in payments?

[xmasbaby0]

Federal>Deductions and Credits>You and Your Family>Child Tax Credit

The IRS is sending out letter 6419 to you.  It will show the amount of advance child tax credit that you received during 2021.  Enter the information from that letter carefully.   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.

NOTE:   The CTC is indeed a “credit” that can be applied toward any tax liability that you would otherwise have to pay as “tax due”  to the IRS.

And…..Ignore that “refund monitor.”  The software STARTS OFF by giving you the full amount of CTC.   When you enter the amounts from your letter, the software reconciles the amount you received with the amount you can still get IF you are eligible to get the other half.     You are NOT losing any of the credit; you are not being taxed on the credit.  Don’t get confused by the reconciled amount.   You got some of it already—-now you get the rest.

 If you received the advance payment and are NOT eligible to get the other half, then it will not show up on line 28.  (Such as in some cases where the wrong parent got the advance payments, etc.)

That “refund monitor” should not be taken seriously until every last morsel of your data has been entered.

[pse224]

When I enter the previous $1800 that I received from Letter 6419 the refund monitor then removes the other half of $1800 that I am to receive. I have fully completed my taxes but I am trying to figure why im not receiving the other portion that was suppose to be on the refund. It does talk about the Schedule 8812 on the letter however TurboTax has no information how to fill the form to attach to the Taxes.

[tuskenraid]

I'm having the same error.  I have 3 children, ages 2, 9 and 13.  I received the advanced payments in the total sum of $4,800. However, when after completing (but not filing) my taxes in TurboTax, my federal refund has dropped to $1,600.  My AGI is under the threshold for phasing out payments, but the calculation is clearly wrong.  Where is the refund of the other half of the full $9,600 I should be receiving in CTC?  I believe the product is calculating incorrectly.

[xmasbaby0]

@tuskenraid Are you saying that you do not see $4800 on line 28?    

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.

[tuskenraid]

I have to pay first in order to see my 1040 and I'm not doing that unless I feel that the answers are correct.   What I see when I look under deductions and credits for the line labeled Advance payments, Child and Other Dependent Tax Credits, is a 2021 item for $4,800.  This is the amount I entered in from my letter 6419 for what we received as part of the advance payment.  However, if I am understand CTC correctly, I am entitled to another $4,800 dollars.  My total CTC for 2021 should be $9,600.  

I did a test to get more info.  When I am inputting the CTC data, if I say I didn't receive anything in advance my, refund is sitting $6,421, and 2021 CTC is showing at $9,600.  When I say that I received by $4,800 it drops to $4,800.  What I am confused by is that I received a full $4,800 dollars from the Federal government in advance.  Why would I not be receiving the remaining $4,800?  Why is my refund dropping all of sudden to $1,621.  What happened to the other $4,800 dollars?

[xmasbaby0]

You do not have to pay to preview your 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.

If you have some tax liability, then your $4800 credit is being used against it, which would explain your refund being only $1621.

[yspapple]

I'm having the same issue as yours, hope TurboTax can FIX this issue!

[xmasbaby0]

@yspapple What issue are you trying to fix?   There are multiple posts in this thread--we do not know what specific issue you are referring to.   Are you having a problem?

[DMarkM1]

The calculations appear to be correct.  Your refund amount of $6421 includes the entire Child Tax Credit that you are eligible for ($9600) as shown on line 28 before entering any advanced payments.   Once you enter that you have already received $4800 via the Advanced Child Tax Credit payments between Jul-Dec, line 28 showing your child tax credit is reduced to $4800 and therefore your refund is reduced by $4800 down to $1621. 

 As @xmasbaby0 states you can view your form 1040 before filing or paying.

1. "Tax Tools" in the left hand menu
2. "Tools"
3. "View Tax Summary" in the main screen
4. "Preview My 1040" in the left hand menu

@Tuscenraid