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Spouse and I both received a letter, which now I can't locate. I looked us both up in the IRS portal and it shows the correct amount paid to us (checked again in my bank account), but it shows that same amount under both of our accounts. So, when I add information for both of us, Turbotax shows that we got double the amount we actually received. Help?
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While the total deposit for Advanced Child Tax Credit payments shows on the IRS portal under each taxpayer, the letters split the payments to accurately reflect the credit given. Each parent was entitled to 1/2 of each payment.
So, if your deposits added to $1,500 in total then the letters split the funds and applied $750 to you and $750 to your spouse. This is how you should enter the information in TurboTax Online.
For the specific steps to enter the info into TurboTax Online please see How do I enter my advance Child Tax Credit payments in TurboTax?
Oh, ok great. The instructions in Turbotax AND on the IRS website don't mention that at all. I'll get that corrected.
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