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Deductions & credits
I still don't get it. My wife and I have 4 eligible kids between the ages of 9 and 17. We both got letter 6419 showing we each received $3,000 between July and December, for a total of $6,000. My understanding was the "advanced" portion sent out between July and December was only the first half of what was owed--that we could expect the second half of the credit when we filed our 2021 taxes. In our case this would be another $6,000. It even appeared that turbotax was including the remaining sum still owed to us in its "estimate." That is, until I actually entered these sums from letter 6419 in the section provided, which reduced my expected return by $6,000. What is going on here?
‎January 25, 2022
11:27 AM