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02-17-202212:52 PM
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Good Afternoon All,
Trying to make sure I am not missing anything with the Advanced Child Tax Credit for clients of mine who make about 100k, 2 children. They each received a statement from the IRS, which I have read can be problematic for couples and it is best to advise them to check their online IRS account for accuracy. In the meantime, I decided to fill out the forms via paper as an educational exercise and I can't seem to get the credit correct on the Line 5 worksheet. Are these forms still in process of development for the software? I really, really, don't want to make an error with this credit!
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qbteachmt
Level 15
02-17-202203:33 PM
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What they are entitled to minus what they got = if there is any more to get, and there is a box to checkmark that they lived in the US at least 6 months of the year.
Here are IRS resources, FAQ, and guidance:
https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-f...
https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
Repayment protection (in Sched 8812):
https://www.irs.gov/instructions/i1040s8#en_US_2021_publink100077789
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qbteachmt
Level 15
02-17-202203:33 PM
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What they are entitled to minus what they got = if there is any more to get, and there is a box to checkmark that they lived in the US at least 6 months of the year.
Here are IRS resources, FAQ, and guidance:
https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-f...
https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
Repayment protection (in Sched 8812):
https://www.irs.gov/instructions/i1040s8#en_US_2021_publink100077789
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"Level Up" is a gaming function, not a real life function.
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SensibleandHourly
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02-18-202204:16 PM
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Thank you!
I had so many tabs open looking at different things, it was ridiculous! 😉 I'll check out these links over the weekend.
Cheers, Dawn.
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Related Topics
Form 8812 Line 5 worksheet
form 8812 line 5 worksheet seems to be shorting the child tax credit
In Proseries professional how do I access line 5 worksheet for form 8812?
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