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JPL1956
New Member

2020 Rebate Recovery Credit Calculation

The IRS has not allowed a Turbo Tax calculated 2020 Rebate Recovery credit in the amount of $589.  The worksheet showed all the work and placed this amount on Line 30.  AGI was 186K, why was this not allowed by the IRS?

2 Replies
Critter-3
Level 15

2020 Rebate Recovery Credit Calculation

Credit was calculated based off the information you entered as to how much of the Advance stimulus payments you’ve got for the first two payments. If you did not enter what you actually got or what the IRS said you got then the IRS will adjust the credit based off the information they have. If the IRS is incorrect then you have to have a trace put on The missing payment. 

JPL1956
New Member

2020 Rebate Recovery Credit Calculation

Turbo Tax asked if we received $0 stimulus and I answered yes, no amounts received.  

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