Question

IRS Stimulus Payments

Forum|Forum|4 years ago
January 28, 2022
1 reply
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TurboTax stated that I was eligible for an IRS $XX stimulus payment and asked if I had received it. I selected YES. After I went ahead, TurboTax showed "Credits for Qualifying Children and Other Dependents" on Form 8812 (14f). I have had no dependents for many, many years. Also, the amount of my refund declined by the amount of the stimulus payment entered. This is very confusing to me, TurboTax.

X

xmasbaby0

Employee

The "refund monitor" starts off by giving your all of the stimulus money and all of the child tax credit because the software does not know yet that you received stimulus money or that you received some advance child tax credit payments. That gets reconciled later.

That "refund monitor" changes as you enter information. That is normal. And you cannot take it seriously until you enter ALL of your information---even though it is so tempting to believe that the highest amount is the "right" refund.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**