@jgFA5Si wrote:
We did receive that money for each child. So they raised the credit from $2000/child to $3000/child (the age of my children), sent out half of that money as an "advance", and then lost the $1,500 per child of credit?
If that's the case I really wish I would've know more about this.
Yes, that's right. But you didn't lose the $1,500 per child. You got it in advance instead of having to wait to get it when you filed your tax return. You and your wife each got a Letter 6419 from the IRS showing the amount of advance payments that each of you received, and telling you that you have to enter it on your tax return. TurboTax asked you how much you received in advance payments. If you had entered the amount that you received when TurboTax asked, your tax return would have been correct and the IRS would not have changed it.
