You'll need to sign in or create an account to connect with an expert.
The software still needs updates for the CTC. But you will see your CTC on line 28 of your Form 1040. Remember that it is a credit. A credit can be reduced by your other tax liabilities.
And.....remember that the software started out showing the FULL amount of the child tax credit when you entered your dependents. When you enter the amount of advance payments already received, it takes away the amount you already got---you do not get it all twice. Did you enter letter 6419 yet? If you have not yet received that letter you will be getting it in the mail. Enter your CTC information very carefully to avoid long delays in processing your refund.
First the Refund-O-Meter is only correct once all your income and expenses have been entered and the program is fully operational. With each entry of income or expenses the meter will continue to vary as the program recalculates the return with each step you take. If this annoys you then turn off the meter until the end.
Next ... the program interview flow is poorly designed and it will give you a false refund total early in the interview. The program gives you 100% of the CTC and the third stimulus credit once you have completed the MY INFO tab early in the interview and then much later, in the deductions & Credits tab, you are asked how much of these credits you got in advance and then the credits are adjusted for the advance payments which will show as a reduced refund amount or an increase in the balance due.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
AliceCarter
Returning Member
bbpuck54
New Member
bbpuck54
New Member
briep08
New Member
Don Riley
Level 2