Preheat your oven to 350°F (175°C).

Line a muffin tin with cupcake liners.

In a mixing bowl, whisk together the flour, baking powder, baking soda, and salt.

In a separate bowl, cream the softened butter and sugar together until light and fluffy.

Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.

Alternate adding the dry ingredients and milk to the butter mixture, starting and ending with the flour.

Fold in the peanut butter until fully incorporated.

Fill each cupcake liner about two-thirds full with batter.

Use a small spoon to create a well in the center of each cupcake and fill it with jelly.

Bake in the preheated oven for 18-20 minutes, or until a toothpick comes out clean.

Once baked, allow the cupcakes to cool in the tin for 5 minutes before transferring to a wire rack.

While the cupcakes cool, prepare the peanut butter frosting by creaming together the peanut butter and powdered sugar, adding heavy cream to reach desired consistency.

Once the cupcakes are completely cooled, frost them generously with the peanut butter frosting.

Optional: drizzle additional jelly over the frosted cupcakes for extra decoration.

Serve and enjoy these delightful peanut butter and jelly cupcakes!