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My ex and I have 3 children together so right now we are splitting the advanced child tax credit in half. Should I unenroll since I'll be claiming 2 for 2021 taxes?
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My ex and I have 3 children together so right now we are splitting the advanced child tax credit in half. Should I unenroll since I'll be claiming 2 for 2021 taxes?
When you file your 2021 tax return you will each reconcile the amount of advance child tax credit you received against the amount you are eligible for. There is no such thing on a tax return as claiming one and half children, so one of you will be able to claim one and one of you will be able to claim two, or maybe one of you will claim all three---depending on who was the custodial parent and whether you have a signed agreement as to who claims the children on the next tax return.
If you get too much in advance you will receive less with your tax return. The amount you get is the same---it is a matter of WHEN it is received.
If you want to un-enroll in the advance payments go to Manage Payments.
https://www.irs.gov/credits-deductions/child-tax-credit-update-portal
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My ex and I have 3 children together so right now we are splitting the advanced child tax credit in half. Should I unenroll since I'll be claiming 2 for 2021 taxes?
If you claim two children on your tax return and your ex claims one child, it sounds like under your current arrangement, your ex is going to owe a repayment. If it is your intention to fully split the credit even including the portion that is paid on your tax returns, then you will need to send your ex some of your refund.
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My ex and I have 3 children together so right now we are splitting the advanced child tax credit in half. Should I unenroll since I'll be claiming 2 for 2021 taxes?
There is a special rule in the case of divorced & separated (including never married) parents. When the non-custodial parent is claiming the child as a dependent/exemption/child tax credit; the custodial parent is still allowed to claim the same child for Earned Income Credit, Head of Household filing status, and day care credit. This "splitting of the child" is not available to parents who lived together at any time during the last 6 months of the year; then only one of you can claim the child for any tax reasons. The tax benefits may not be split in any other manner.
Note in particular that the non-custodial parent can never claim the Earned Income Credit, Head of Household filing status or the day care credit, based on that child, even when the custodial parent has released the dependency to him.
Ref: https://www.irs.gov/publications/p17#en_US_2017_publink1000170897
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