Question

Anyone know how does the advance child tax credit work for first half 2021?

Forum|Forum|4 years ago
January 22, 2022
2 replies
0 views

I received the credit/payments for 2nd half 2021. But tax return didn't have anything on credit for 1st half of the year?

TurboTax Premier Online

Critter-3

They were only issued from July to Dec ... the second 1/2 of the year.

Critter-3

TurboTax will compute the full amount of the Child Tax Credit if you enter a dependent in your tax return and the dependent qualifies as a qualifying child.

In January 2022, the IRS will send you Letter 6419 to provide the total amount of Advance Child Tax Credit payments that were disbursed to you during 2021. You and your spouse will each receive your own letter with the total you each received.

The amount of Advance Child Tax Credit payments will be entered at the screen Tell us about any Advance Child Tax Credits.

TurboTax software will compare the credit, deduct the advance payments and post a Child Tax Credit on line 28 of the Federal 1040.

You may view the entry on the Federal 1040 under Tax Tools / Tools / View Tax Summary / Preview my 1040.

You may view the completed Federal 8812 Tax tools / Print Center.

See also this TurboTax Help.

AmyC

Employee

The IRS did not begin making pre-payments until July. There were none to receive the first half of the year other than from your tax return for the prior year.

The child tax credit does cover the full year on your tax return, you would have the deduction for what you received and a matching credit on your return to cover the first half of the year.

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C

chris-leschAuthor

Thanks everyone for your responses. Would have been better if they gave the break for all 12 months but they probably wouldn't listen to me if I asked them to now. There is a reason I have specialists do my taxes 😉

Critter-3

Ok ... in March 2021 Congress passed a law that required the IRS to make advance payments ASAP but the fastest the IRS could get this situation in motion was to have payments going out from July thru Dec to reflect 1/2 of the annual CTC amount. Then when you file the 2021 return you get the other 1/2 of the credit on the 2021 return.