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The (in our case $1400 because of the advance child tax credit payments in 2021) child tax credit *is* calculated correctly on our return, but the corresponding box on the Tax History Report is empty, whereas the $4,000 amount for years 2020 & 2019 do show up.
So the final calculation is correct, but when comparing amounts in the future, when we look back to 2021, it will incorrectly indicate that we did not get a child tax credit.
This is a bug.
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It is not a bug. Tax year 2021 child tax credit is different from 2019 and 2020 tax years. The child tax credit for 2021 is fully refundable and the credit is reported on Line 28 of Form 1040.
It is not a bug. Tax year 2021 child tax credit is different from 2019 and 2020 tax years. The child tax credit for 2021 is fully refundable and the credit is reported on Line 28 of Form 1040.
Thank you for the explanation. I accept what you're saying as correct, but it's understandably confusing - it's very clearly labeled as a tax credit, yet it doesn't show up on the "Total Credits" line on the Tax History Report. No reason for it not to, as that's just an informational sheet. Even if it's fully refundable, it's still a tax credit, no?
There are two sections for credits on the 1040 - credits that can only reduce your tax and credits that are fully refundable. The IRS moved the child tax credit from the first section to the second so TurboTax did the same.
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