Our remaining Child Tax Credit should be $8,700. Only receiving $6,000 per Turbotax? I owe $600 to the IRS, but that's far less than 2700...

[benmatthews91]

5 Kids (One is 6, Four are 5 and under).  Child Credit is 17,400/2, is 8700/6, $1450 payments per month.  We 'only' got 1400/mo, and now Turbotax is calculating our remaining refund to be ~6,000, far less than the remaining 8700.

[RaifH]

There are a couple of possibilities why you are not getting the Child Tax Credit that you expect. One possibility is that your combined income is too high to receive the full Child Tax Credit. The thresholds are as follows:

• $150,000 if married and filing a joint return or if filing as a qualifying widow or widower;
• $112,500 if filing as head of household; or
• $75,000 if you are a single filer or are married and filing a separate return.

The first phaseout reduces the Child Tax Credit by $50 for each $1,000 (or fraction thereof) by which your modified AGI exceeds the income threshold described above that applies to you.

Another possibility may be that one of your children is not entered into the system correctly, and is therefore not triggering the Child Tax Credit for that dependent. For each child in the Add a Dependent screens: 

1. Ensure that every child is marked for having lived with you for 6 months or more and that all that time was in the U.S.
2. Mark No to Did your child pay for more than half of their living expenses and other support?
3. When you enter your child's Social Security number, ensure that the box marked "Not valid for employment" is printed on your child's Social Security card is not checked.

Finally, you may want to check that the amount you received from July through December as advanced payments is entered correctly and matches what the IRS reported to you on Letter 6419.

1. In your TurboTax return search for Child Tax Credit and Continue.
2. Answer the question on the Let's start with where you spent the most time in 2021 screen and Continue.
3. 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.
4. Answer the questions on the following screens, confirm your amount on the Let's recheck your advance Child Tax Credit payments screen, and Continue.

[benmatthews91]

Thank you for the reply.  So I'll touch on each point -

We are well below the thresholds so it can't be that.

I have double checked the children to ensure they are entered correctly and everything is right.  

I checked the total from the IRS portal and we received less than half.