The amount of the advance is based on the amount of your income tax refund.
TurboTax is offering refund advance loans to those who qualify. If you qualify the loan is offered at the time that you file your tax return.
You do not get the money until the 2020 e-file has been ACCEPTED by the IRS.You also have to agree to receive your refund on a new prepaid TurboTax Visa.
The IRS will begin to accept/reject 2020 returns on February 12, 2021.
My advance is 500 too. I was preapproved for 2500. My refund is almost 8000. I would have never filed with turbotax if they hadn't told me I was preapproved for a 2500 dollar advance. I feel fooled.