I received $3600 of the child tax credit by direct deposit in 2021, so i was under the impression that i would then receive the additional $3600 as a credit on my 2021 taxes. When i get to the child tax credit section, it asks me to enter the amounts i we have received from form 6419 which total $3600, i enter the amount, but then it deducts $3600 from my calculated refund. Shouldn't it be giving me an addiotnal $3600? Why does my refund total decrease when the $3600 is calculated? Im very confused why this is not crediting me $3600, but rather taking it away, when i have not received the total credit amount. Any insight would be greatly appreciated!
I have 2 kids under the age of 6, and my income is less than $150,000 joint.
TurboTax is only taking away the Advance Child Tax Credit you entered. When you start your return and/or add your dependents to your info, TurboTax assumes you will receive the full Child Tax Credit of, in your case, $3,600 per child. Once you enter that you already received the $3,600 you mentioned, it removes that portion from your refund.