Phaseout for MFJ starts at 150k, but doesn’t completely phase out until

Jul 15, 2021
11:59:31am

BigD Coug All-American

400k+. So you probably qualified up to the maximum deposit amount, and anything beyond that will be part of your return.

Report problem with this ad

BigD Coug

Bio page: BigD Coug
Joined: Dec 14, 2004
Last login: Jun 8, 2024
Total posts: 21,617 (236 FO)

Report problem with this ad

Messages

Author

Time

I just received a roughly $1,000 deposit for the Child tax credit. My income

Dangerous

7/15/21 11:55am

You actually made $101,000 but you inflated the number bc it’s cb.

cougsareforreal

7/15/21 11:56am

The phase out starts at $150k? So you still got partial amounts

Kajdin

7/15/21 11:56am

AGI?

Turnpike Lane

7/15/21 11:56am

Holy crap. $200k? What do you do?

TNT

7/15/21 11:56am

Cb mod training program

DodgerMike

7/15/21 11:58am

explanation: the government is being run by morons

rotorhead

7/15/21 11:57am

You have 4 kids & received an advanced payment on your $2k child tax credit.

RdF3

7/15/21 11:57am

I thought the advance payment was only for the "additional" part of the child

Dangerous

7/15/21 11:59am

Nope, you'll still get monthly payments (50%) unless oyu opt out.

rggee

7/15/21 12:00pm

OK - thanks for the info. Looks like I'll need to adjust my withholdings as

Dangerous

7/15/21 12:01pm

You can still opt out for the remaining payments, if you'd like.

rggee

7/15/21 1:27pm

Same here. But then I’ve heard of this happening & the advance happening on the base credit too.

RdF3

7/15/21 12:00pm

You'll get the normal child tax credit of $2000 per kid. Half of that will be

rggee

7/15/21 11:58am

the more kids you have the higher income you need to phase it all out

Cougforgood

7/15/21 11:59am

Phaseout for MFJ starts at 150k, but doesn’t completely phase out until

BigD Coug

7/15/21 11:59am

Perfect humble brag opportunity. Well done 👏🏻

LaVellIfIKnow

7/15/21 12:20pm

It was actually a legitimate question....

Dangerous

7/15/21 12:22pm

Nobody is jealous of his 4 kids bro. We all got our own

Posting on CougarBoard