Question

Federal Tax Owed increases when I enter my stimulus info. Why??

Forum|Forum|5 years ago
May 5, 2021
1 reply
0 views

My Federal Tax Owed before I entered the stimulus info was 1142.

After entering my info where I say my wife and I received the first payment but not the second my Federal Tax Owed increases to 2625.

I thought the payment wouldn't affect my taxes owed.

E

ELTIVAuthor

OK, not getting much assistance here.

Is there some way to actually talk to a representative?

I don't see any phone numbers anywhere on any of the web pages I've been to.

J

JotikaT2

The stimulus payments are not taxable. However, if you had not put in your stimulus payments before, your return was calculating the Recovery Rebate Credit and that was generating a higher refund.

The amount of the Rebate Recovery Credit is based upon your actual 2020 income tax return you file. Therefore, if you meet the criteria for the credit, you will receive it when you prepare your 2020 income tax return. The credit is intended to give those who should have received a stimulus payment but never did a tax credit on their tax returns. Any excess credit is then refunded to you if there is an overpayment on your tax return.

Please see the attached link for more information on who can claim the credit.

Recovery Rebate Credit eligibility

If you would like to speak to a representative, please use the link below to contact us.

Contact TurboTax

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"