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icd10cats
New Member

How do I reflect an IRS reduction of $600? The IRS adjusted my 2020 refund, how do I make the change in my turbo tax file so it will be correct for importing next year?

Turbo tax had me include a rebate incorrectly and the IRS reduced my refund by $600.  There is a small amount of interest for the 4 months it took the IRS to determine this so its not a straight $600 reduction. How do I reflect these changes in my 2020 tax return so my records are correct?
3 Replies
VolvoGirl
Level 15

How do I reflect an IRS reduction of $600? The IRS adjusted my 2020 refund, how do I make the change in my turbo tax file so it will be correct for importing next year?

Don't bother or worry about that.  It should not affect next year when you transfer.

Critter-3
Level 15

How do I reflect an IRS reduction of $600? The IRS adjusted my 2020 refund, how do I make the change in my turbo tax file so it will be correct for importing next year?

If they adjusted the stimulus credit then nothing needs to be corrected in the program as it doesn't affect the next year's return. 

Mike9241
Level 15

How do I reflect an IRS reduction of $600? The IRS adjusted my 2020 refund, how do I make the change in my turbo tax file so it will be correct for importing next year?

the interest will be taxable in 2021. nothing affects the 2020 return you have

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