Yes of course the TurboTax software will support the CTC. There are updates needed so don't rush.
The flow of information is confusing some users when they are looking at the child tax credit. SOME people received advance monthly payments —— some did not. The software STARTS OUT giving you the full amount when you enter your qualified child dependents. Later when you tell the software that you received some advance payments, the “refund” on the “refund meter” is adjusted so it looks like you just lost some credit. No, you did not lose it. You just do not get the full amount again. The software is reconciling the full amount with the amount you received in advance. Look at line 28 for the amount of Child Tax Credit on Form 1040. And….make sure you use letter 6419 from the IRS when you enter the advance child tax credit you received. It is important to enter your advance CTC correctly to avoid delays in processing your return.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
