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Level 1
posted Jan 26, 2022 9:10:52 AM

2021 Child Care

My family received $1k in advance child tax credit for 2021 childcare. Can you give me info on 2021 tax issues/credit for childcare. And, how to factor in this advance payment? Thx!

0 2 399
2 Replies
Expert Alumni
Jan 26, 2022 9:22:06 AM

Yes, the advance child tax credit (ACTC) is reconciled on the tax return with your IRS letter 6419.  

 

Child Care can be reviewed at this link and it can be refundable this year if your tax is less than the credit: Child and Dependent Care Credit

 

The child tax credit (CTC) is reconciled on your 2021 tax return, taking into account any advanced child tax credit (ACTC).

  1. Sign into your TurboTax Online or CD/Download account
  2. Search (upper right) type child tax credit > Click on the Jump to ... link
  3. Begin to answer the questions about the advance
  4. Use your 6419 IRS letter to complete the advance payments received, or if none enter zero

You can view your entire return or just your 1040 form before you e-file:

  1. Open or continue your return.
  2. With the Tax Tools menu open, you can then:
    • View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
  3. Scroll to line 28 (see below)
  4. See images below

Level 1
Jan 26, 2022 9:31:43 AM

Thx