Tax Reporting Line - Advance Child Tax Credit

OnlineDestruction

When entering a New Category, what Tax Reporting line did everyone use the for Advance Child Tax Credit?
Also received a credit for overpaying taxes on unemployment. I am not sure what Tax Reporting Line I need to use for that one as well.

Any recommendations or thoughts?

Mark1104

let me ask you this....if you get a tax return when filing your taxes, where did you post THAT credit. I'd use the same thing for the Advance Child Tax Credit - because it has the same effect.... you are simply receiving part of the tax refund you normally receive in March / April .

for the overpaying taxes on unemployment refund, it's really the same thing as my question above.  I'd 'trick' Quicken and tell Quicken it was received on 12/31/20 so that it doesn't comingle with 2021 tax reporting. 

Alternatively, I might set up a new EXPENSE (I know not intuitive) category called 'federal tax credit' and for the tax category assign it to '1040 estimated tax payments",  this is the opposite of a estimated tax payment.  But again, find a way to separate your two examples as the Unemployment Refund relates to 2020 and the advance child tax credit relates to 2021