New baby born 2021 why is Proseries calculating $2K and not $3,600, and where is Line 5 Worksheet?
ProSeries doesn't show the line 5 calculation I use the IRS worksheet in the 8812 instructions to verify PS calculates correctly.
No income is $248K, thought it was the baby was born in 2021, but IRS site doesn't address 2021 births, just say 0-6 $3,600
@PHRCPA wrote: No income is $248K,
No income is $248K,
That is well past the the income limitation for the $3600 credit.
$400,000 if married and filing a joint return; or. $200,000 for all other filing statuses.
its a married couple
got it, phase outs, finally found it!! brain dead
Thank you all
Based on the $248k, you client is only entitled to $2000 CTC...... complete the worksheet on page 4 of F8812 instructions
Thought maybe there was a box to check to indicate new baby as opposed to old baby.
