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After you file
Yes, your calculations are correct.
As @CatinaT1 pointed out, you must indicate that the 2020 dependent lived with you the whole year. Now, this seems obvious, but consider what month the baby was born....In TurboTax, the month of birth does not matter.
To properly add the baby as a dependent in 2020, the response must be 12 months.
March 20, 2021
7:36 AM