Question

Child tax credit

Forum|Forum|4 years ago
December 8, 2021
2 replies
0 views

Are we receiving the remaining child tax credit for 2019-2020 tax year in addition to 2021? Or is this all combined in the amount calculated?

DoninGA

Employee

The 2020 Child Tax Credit can only be claimed on a 2020 tax return. The increased Child Tax Credit for tax year 2021 can only be claimed on the 2021 tax return.

R

RsykesAuthor

Correct! So does this mean when we file taxes for 2021 we will receive an additional child tax credit for 2021 tax year (i.e. 2 dependents 5/6 yrs. old; $300 per child=$7200) you have already received half ($3600) does this mean you will receive the remaining $3600 plus your child tax credit for 2021 tax year? Just trying to gain clarity

KochuK

Each child, depending on the age, if qualified, TOTAL child tax credit is $3,600 or $3,000. If you received "advanced child tax credit payments," then you get to claim the remaining half amount when filing your tax year 2021 tax return.

Below link Q F10 explained various scenarios on this topic.

https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-topic-f-updating-your-child-tax-credit-information-during-2021

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KochuK

Hi Rsykes,

In general, each tax year is independent. There is no combining of child tax credit across different tax years.

For tax year 2020 (filed on 5/17/2021), the child tax credit can be $2,000 per qualifying child.

For tax year 2021(to be filed on April 2022), the Child Tax Credit is increased from $2,000 per qualifying child to: