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Level 4
January 29, 2022
Solved

advanced child tax credit

  • January 29, 2022
  • 2 replies
  • 13 views

If my client claims his child every other year and the ex received advanced child tax credit. can I put down he received it and get the difference. he does not want to rock the boat with the ex. He does not want to ask her if she received it or not. will she have to repay if I do it this way?

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Best answer by jeffmcpa2010

Regardless of how you report the ACTC She will be paying it back (or having her refund reduced) if she does not claim the child for 2021.

 

The correct way is for him to record his accurate tax situation, unrelated to any other person's tax situation.

He reports 0 ATCT and let the chips fall where they may.

2 replies

Level 10
January 29, 2022

Regardless of how you report the ACTC She will be paying it back (or having her refund reduced) if she does not claim the child for 2021.

 

The correct way is for him to record his accurate tax situation, unrelated to any other person's tax situation.

He reports 0 ATCT and let the chips fall where they may.

taxiowa
Level 8
January 29, 2022

Repayment is not required if certain mininum income amounts are not met.  So ex may not have to repay any.  Put 0 under his advance payment question.