For example, I went from owing the IRS $1,000 to now owing $4,000.
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The refund meter starts with expecting you to have not gotten any advance credit. The meter is no help. Look at your actual tax forms and verify your numbers are correct.
To view your return,
If you are using the online version:
In the desktop program, switch to forms mode.
Turbo Tax started out giving you the full amount. So your refund was too high. Then you enter what you already received so it subtracts out what you already got. Check 1040 lines 19 and 28 and schedule 8812.
since the refund meter is meaningless until everything is entered, maybe Turbotax should not display it until the review process is done or if the taxpayer checks a box to request to display it as they go.
But I went from owing $1k to owing $4k. It’s as if I am paying back the Advance Child Tax Credit. Is this accurate?
No but Turbo Tax was already giving you credit for the whole 6,000 as soon as you entered your children so your refund was too high or tax due was reduced. Then near the end you enter you already got 3,000 so it subtracted that off.
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