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It doesn’t matter as long as the total amount that you received as a couple is reported.
As a matter of fact, the IRS has allocated the credit to each of you. It might be all to one parent, or half to each parent, or something else. You can look it up online or the IRS will be mailing letters. If you know the allocation, list it accordingly in the program.
As a practical matter, if you were married and filed a joint return last year, and are married to the same spouse and filing a joint return this year, and you are claiming the same dependents, then it doesn't matter how you enter the advanced credit as long as the overall total is correct.
I think it does matter because when I put the total amount, Lets say $6000, for each of us, it dramatically reduces our federal return amount. however, when I put $0 for one of us and $6000 for the other, it doesnt make such a big reduction in our return, This is what I mean...
So total say we received that $6000, Should i input it like this -
Husband Total received - $6000
Wife Total Recieved - $6000
Or like this -
Husband Total received - $6000
Wife Total Recieved - $0
I did look it up with the IRS, and it says my husband received the same amount as my account says I receieved. So as a couple, say we had $6000, in total advanced to us ($1000 per month x 6 months). When I log into my IRS account it says I received $6000. Then when I log into my husbands IRS account it says he received $6000. So that to me kind seems like we received $12,000 total, but we didnt, we only receieved $6000.
@jrlcatch422 wrote:
I did look it up with the IRS, and it says my husband received the same amount as my account says I receieved. So as a couple, say we had $6000, in total advanced to us ($1000 per month x 6 months). When I log into my IRS account it says I received $6000. Then when I log into my husbands IRS account it says he received $6000. So that to me kind seems like we received $12,000 total, but we didnt, we only receieved $6000.
That's not what I would expect. You should definitely only enter the $6K you actually received. I wonder if the guidance I have heard was incorrect.
Turbotax is designed to ask both parents because the parents might have received different amounts, (such as if they are newly married but had prior kids) but the tax form only takes the overall total, so just report your total in one line and leave the other blank.
In January you are going to receive a Letter 6419 from the IRS that shows how much -- if any-- advance monthly CTC payments were sent to you. That will have to be entered on your return and then the amount of CTC still owed to you will be reconciled on your 2021 return.
Enter your Advance Child Tax Credit information from IRS Letter 6419 here:
Don't be in a rush. By law, the IRS cannot issue a refund involving the Earned Income Tax Credit or Additional Child Tax Credit before mid-February, though eligible people may file their returns beginning on January 24. The law provides this additional time to help the IRS stop fraudulent refunds from being issued.
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