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It showed the $3,000 but at the end it took it off does anyone know why there doing this?

our income is under 60,000 so why aren't we getting the child tax credit?
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2 Replies

It showed the $3,000 but at the end it took it off does anyone know why there doing this?

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.

 

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.

 

And…..Ignore that “refund monitor.”  The software STARTS OFF by giving you the full amount of CTC.   When you enter the amounts from your letter, the software reconciles the amount you received with the amount you can still get IF you are eligible to get the other half.     You are NOT losing any of the credit; you are not being taxed on the credit.  Don’t get confused by the reconciled amount.   You got some of it already—-now you get the rest.

 

 If you received the advance payment and are NOT eligible to get the other half, then it will not show up on line 28.  (Such as in some cases where the wrong parent got the advance payments, etc.)

 

That “refund monitor” should not be taken seriously until every last morsel of your data has been entered.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
RaifH
Expert Alumni

It showed the $3,000 but at the end it took it off does anyone know why there doing this?

If you had a qualifying child between the ages of 6 and 17, you would be due a Child Tax Credit of $3,000 total. 

 

This amount does include any amount of advance Child Tax Credit payments you may have already received in the form of monthly payments from July through December of 2021. If you did receive any advance payments, the TurboTax software will automatically reconcile the amount of credit you are still owed. For the system to do this, please follow these steps:

  1. You should have received Letter 6419 from the IRS which states the amount of Advanced Child Tax Credit you have already received. If you do not have that letter, you can get the information from the IRS website

  2. In your TurboTax return search for Child Tax Credit and Continue.

  3. Answer the question on the Let's start with where you spent the most time in 2021 screen and Continue.

  4. On the Tell us about any advance Child Tax Credit payments screen, answer Yes, enter the amount from your letter in the Tell us about any advance Child Tax Credit payments box, and Continue.

    1. If your spouse also received payments, be sure to enter that amount as well as a combined total for both of you.

  5. Answer the questions on the following screens, confirm your amount on the Let's recheck your advance Child Tax Credit payments screen, and Continue.

 

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