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Child tax credit between 6 and 18 is $3,000 client has 2 kids that qualify. They received $1500 each in advance credit so remainder should be $3000. Program is giving them only $1000. I can't figure out why form 8812 is reducing the credit.
Help please
Phil
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How old are their children?
"$3,600 in 2021 for each child under age 6. Similarly, for each child age 6 to 16, it’s increased from $2,000 to $3,000. It also provides the $3,000 credit for 17-year-olds."
It's not "to 18" but "under 18."
Don't yell at us; we're volunteers
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Are the numbers on lines 4a,b,c correct ?
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Yes, there are two children ages 14 and 15.
Line 5 says $4000 and not the $6000 that I would expect.
Thanks for your help
Phil
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Check your Dependent information on Federal Information Worksheet ? Is the box marked for Not Qualified for Child Tax Credit ?
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I had already checked, and no the boxes are NOT checked
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Nevermind the math still wouldn't come out right if one was qualified and one wasn't
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I am sorry you lost me on that one. They are both qualified.
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Download the worksheet for Line 5 from IRS... see what you come out with.
What is the amount on Line 1 - over $150,000
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Is their income too high?
The more I know the more I don’t know.
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lol sorry I was saying never mind my question about the boxes being checked for qualified or not qualified because the math didn't match that being the issue
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Form 8812 line 1 is $257071. I did download the form and worksheet from instructions. I get hung up on line 9 of the (line 5) worksheet. $107071 equals how many of the units. I come up with 100 and there it goes crazy for me.
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Form 8812 line 1 is $257071. I did download the form and worksheet from instructions. I get hung up on line 9 of the (line 5) worksheet. $107071 equals how many of the units. I come up with 100 and there it goes crazy for me.
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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I can accept that, but please help me with the calculation so that I can explain why to my client.
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When you did the worksheet what did you get for line 10? What did you get for line 7 ?
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if line 9 = $107071 use $108000