2021 Child Tax Credit

[bullgator91810]

I have 2 children under 5 and one under 17. The IRS prepaid me $5,100 in child tax credit, but Turbo Tax isn't including the remaining $5,100 that is due when preparing my return. My AGI was under $150k, so how do I get this corrected when each child under 5 is due $3,600 and the 3rd child is due $3,000 (total of $10,200)?

[bullgator91810]

PS - Filing as "married and filing a joint return"

[Affordabletaxes2021]

Check line 28 of 1040 form for the balance of the child tax credit.

[JillS56]

The Refundable Child Tax Credit (which is the 2nd half of the child tax credit) is shown on Line 28.   Check your Form 1040 Line 28.   Does this line have $5,100 on it?

[bullgator91810]

thanks for the quick replies. The $5,100 does show in line 28 so does that mean the $5,100 the government already sent isn’t recorded elsewhere? It’s confusing because I inputted the amount from the 6475 letter and it matches what is still owed. 

[xmasbaby0 · Accepted solution]

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.   Then it will calculate down to the refund you see on line 35a or the tax due on line 37.

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.

[KrisD15]

The IRS tried to send half, so yes, the amount of the payments and also the amount you will be getting as a refundable credit, happen to be the same amount, in your case 5,100. 

@bullgator91810

Make that-

The amount you reported as having already received in listed on Schedule 8812 Line 14f, (or if neither question in box 13 is checked, it will be on line 15e) 

That schedule is included with your tax return. 

[Edited 03/02/22 I 8:42pm PST]