Question

Refund is less than what TurboTax calculated

Forum|Forum|5 years ago
March 14, 2021
2 replies
0 views

The Federal Tax refund that was deposited into my bank account was $2400 less than what TurboTax calculated.

How can this happen? The difference appears to revolve around the Recovery Rebate Credit Worksheet. Can someone please assist?

VolvoGirl

Employee

Why do you have 2400 on 1040 line 30? Did you not get some of the Stimulus payments? How much did you get for the first and second round? Are you married? Do you have any dependents under 17?

You might have not entered the stimulus payments you already got or entered the wrong amount. Looks like you tried to claim the 2400 again that you already got. The first round was 2,400 for a couple.

R

reugenenesbitAuthor

We received the full amount for both stimulus checks. Should line 30 have been zero? We filed as married & no dependents.

Regards.

VolvoGirl

Employee

Yes if you got the first 2400 and the second 1200 then line 30 should be zero. Do you remember entering the 2400 in the first box and 1200 in the second box?

P

Paulheyl

Me too. And, I had to wait 5 weeks for the error to be fixed. I supposedly will be receiving a letter of explanation in the mail. What’s going on turbo tax???

Critter-3

This is not a TT issue ... if the user enters the wrong amount of the advance stimulus payments in the interview screen then the IRS will delay the return in processing and recomputed the return using the correct amount ... this is clearly a user entry error. See the screen shots below ... the program explained it all to you ...

The IRS letter to come will explain what they changed and why but until then look at the form 1040 line 30 ... if you got all the stimulus money up front then line 30 should be blank or a zero... you are not allowed to "double dip".