Question

When I add advctc child credit to my tax return it deducts from my refund

Forum|Forum|4 years ago
January 27, 2022
1 reply
0 views

Hi,

I meet all the criteria for getting the $1500 child tax credit (which we've had). I have the two 6419 forms for my wife and I and the submitting it into the return at $750 each works, but as soon as I hit next it takes $1500 off my refund. I don't understand why this happens, almost like I have to pay it back. I'm filing jointly and we are well under $150k between us.

Any advice would be appreciated.

Thanks in advance.

rjs

Employee

@adehanks wrote:

as soon as I hit next it takes $1500 off my refund. I don't understand why this happens

It happens because when you start your tax return TurboTax doesn't know that you got an advance payment of the Child Tax Credit. So as soon as you enter your child, TurboTax gives you the full credit, which is $3,000 for one child. Later, when you tell TurboTax that you already got $1,500 in advance, it subtracts that from your credit, leaving you with a credit of $1,500. If you have $1,500 on Form 1040 line 28, your credit is correct.