Advanced Child Tax Credit
Advance CTC payments must be reconciled on the 2021 tax return. Excess advance payment amounts received will be required to be repaid in certain circumstances. To reconcile amounts received for the advance child tax credit, entries must be made on the 8812 screen in Drake Tax 2021.
Other videos in this category:
Learn how to prepare some or all of your state extensions, by using the STEX screen. [CC]
Learn to compute the qualified business income (QBI) deduction for income originating from Schedule E.
Calculate the taxable portion of the state refund carry to next year's return when the taxpayers is subject to AMT. [CC]