Earned Income Tax Credit

[KSEVANS26]

I am 28 and received a portion of the refund that was calculated by TurboTax. The amount is the same if I select that I could be claimed as a dependent. I am not claimed as a dependent on my parents income tax return.

This caused me to miss the Earned Income Tax Credit and the two initial stimulus payments, so am out about $2200. How do I find out why there is this discrepancy between TurboTax and the IRS refund?  Thanks

[ThomasM125]

If you can be claim as a dependent on your parent's tax return, you need to report that on your tax return and that will negate you being able to qualify for an earned income credit. It doesn't matter whether they claim you, just they're being able to claim you will disqualify you.

You mention that the IRS refund paid to you is less than what was listed on your tax return. The IRS will send you an explanation in the mail as to why they reduced your refund, you should receive it within two weeks of when you received your refund.