In 2020 my child tax credit was $6,000.00 for 3 Kids In 2021 I received $4,500.00 in Child Tax Credit Payments and that is all that the program is giving me credit for. Shouldn't the child Tax Credit in 2021 be $9,000.00 for 3 kids? And how do I change that in the Turbo Tax Program?
You'll need to sign in or create an account to connect with an expert.
In order to enter your advanced Child Tax Credit payments into TurboTax:
It sounds like you may have entered $4,500 for both yourself and your spouse. That would result in the system calculating that you already received the full $9,000 that you were due. The letters should break it into half for each of you, so $2,250 each.
I did enter $2,250 each for a total of $4,500.00. It is giving me a total Child Tax Credit of $4,500.00 for 2021. I believe that number should be $9,000.00 but the program doesn't let me change it.
Are you able to view the computation that the software made for the actual credit?
If you can view the entire 2021 1040 Federal tax return at Tax Tools / Print Center, you will see:
The full amount of the Child Tax Credit is not reported on the 2021 1040 Federal tax return, only the net amount after applying the advance payments.
To view these forms in TurboTax Desktop version, click on Forms in the upper right hand corner of the screen.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Wallace_n_Gromit
New Member
RAF944
New Member
Radtree
Level 3
moorecache
New Member
MikO12
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.