I accidently entered the wrong numbers in the Recovery Rebate Credit section while filing (forgetting to include one of my dependents in the math). Now it seems my return is in limbo with no visible transcripts and only one bar on the WMR, it was accepted on 02/12 but no movement since then. I tried to go through and amend the return through TT but it says I cannot amend yet. So my question is: Will the IRS just reject my return and then I have to wait a bit before i can file an amended return or will they adjust it themselves?
If your return is Rejected, you'll be able to open it and correct your entry in the Federal Review section for the Recovery Rebate Credit ane efile again.
There was actually no calculation involved; all you had to do was enter the Stimulus Payments you actually received. TurboTax then calculated your credit based on the people on your 2020 return, so you may not have entered incorrectly.
If you return is accepted, wait until you receive your refund before attempting to Amend your Return; the IRS may make the adjustment for you if your entry was incorrect.
Click this link for more info on the Recovery Rebate Credit.