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Level 1
February 19, 2022
Question

ADVANCED CHILD TAX CREDIT

  • February 19, 2022
  • 1 reply
  • 9 views

Client was MFJ in 2020 with 2 Children - Received $ 1650.00 each in Advanced Child Tax Credit

This year it is better for them to file MFS and put the 2 children on his return - it appears he gets more child tax credit and she does not have to repay - is that possible ??

 

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1 reply

Just-Lisa-Now-
Intuit Community Champion
February 19, 2022
Many preparers are using ability to "double dip" this credit as tax planning, yes.
Assuming you're not in a CP state of course, might not work out quite so well for CP states.
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