Why did Turbo Tax add the recovery rebate credit to my taxes paid when my AGI was over $75K?

Forum|Forum|4 years ago
May 3, 2022
2 replies
0 views

Turbo Tax added $1008 of Recovery Rebate Credit to my taxes paid (line 30 on the 1040), but my AGI was a little over $76K. I just got a letter from the IRS saying that I owed the $1008 in additional taxes plus $1.88 in interest. Why didn't TT catch that when I filed my return? I used the desktop version and not online.

Best answer by VolvoGirl

It's probably not because of the AGI. Did you get any of the 3rd stimulus last year starting in March? $1008 would be the reduced amount for going over the AGI. Was your AGI under 80,000 max for no credit?

The max amount is 1,400. So you had the 1,008 on 1040 line 30? You might have tried to claim it again. Line 30 is only if you didn't get the full amount or qualify for more. The IRS shows they already sent it to you.

Did you get IRS letter 6475 saying what they sent you? If you didn't get the IRS letter 6475 saying what they sent you then check your bank statements and check your IRS account to see when and what they sent you.
https://www.irs.gov/payments/your-online-account

If you didn't get the 3rd Stimulus check but the IRS shows they sent it to you then request a trace for a missing third Stimulus payment
https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-payment-issued-but-lost-stolen-destroyed-or-not-received

rjs

Level 15

What is the filing status on the tax return that you filed?

How many dependents did you claim?

How much did you tell TurboTax that you received for the third Economic Impact Payment (stimulus payment)?

When did you file?

VolvoGirlAnswer

Level 15

It's probably not because of the AGI. Did you get any of the 3rd stimulus last year starting in March? $1008 would be the reduced amount for going over the AGI. Was your AGI under 80,000 max for no credit?

The max amount is 1,400. So you had the 1,008 on 1040 line 30? You might have tried to claim it again. Line 30 is only if you didn't get the full amount or qualify for more. The IRS shows they already sent it to you.

Did you get IRS letter 6475 saying what they sent you? If you didn't get the IRS letter 6475 saying what they sent you then check your bank statements and check your IRS account to see when and what they sent you.
https://www.irs.gov/payments/your-online-account

If you didn't get the 3rd Stimulus check but the IRS shows they sent it to you then request a trace for a missing third Stimulus payment
https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-payment-issued-but-lost-stolen-destroyed-or-not-received

P

pabbrennanAuthor

Level 2

Ah, thank you. I must have gotten confused on what should have gone on that line and thought they were asking for the amount of stimulus I had received, but now that you've explained it, it makes perfect sense! I suppose I should pay more attention when doing taxes...