The way this REALLY works is EVERYTHING is based on you 2020 income, filing status and number of children under the age of 17. What these numbers were in 2018 and 2019 does not matter.
The IRS will calculate your stimulus based on 2020 numbers; that is what is considered the ACTUAL.
The two payments were just ESTIMATES
if the ACTUAL is greater than the ESTIMATE, you will receive that amount as a credit on your 2020 tax return.
if the ESTIMATE is greater than the ACTUAL, you are not required to return the money nor does it impact your refund. Line 30 on Form 1040 will be zero.
Turbo Tax is not yet programmed for the 2nd payment, so only enter the 1st payment when TT asks for it for the time being (which sounds like just the $1200 for you and $500 for the one child received for the 1st stimulus) it should be updated before the filing window opens
you should see $1000 as a credit from your explanation
With that explanation, does it work out correctly?
