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April 15, 2021
Question

Why is the recovery rebate credit refund from IRS different from turbo tax calculations?

  • April 15, 2021
  • 2 replies
  • 0 views
All the correct info was input, but turbo tax calcualtion was more then the IRS.  And yes this delayed my refund for almost 10 weeks.

2 replies

KathrynG3
April 15, 2021

Thank you for letting us know about your experience. 
 

To confirm the results for the Recovery Rebate Credit, see: 2020 Recovery Rebate Credit — Topic F: Finding the First and Second Economic Impact Payment Amounts to Calculate the 2020 Recovery Rebate Credit

 

@zahns357

April 15, 2021

My situation my not apply to you, but maybe it will apply to others.

The numbers from TT did not match my two paper stimulus checks. Then I remembered that there was an earlier stimulus payment before the two paper stimulus checks, but it was direct deposited. So the two paper checks were for stimulus 2 and 3, not 1 and 2 amounts that TT showed. Once I checked my bank records for stimulus 1 direct deposited on April 15 2020 and the "Donald Trump" stimulus check which was stimulus 2, everything matched.

LenaH
April 15, 2021

Yes, that is correct. The third stimulus check did not factor into the calculation of the 2020 Recovery Rebate Credit.

 

@Personyear

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