IRS recalculation

Forum|Forum|5 years ago
May 5, 2021
1 reply
6 views

Online now shows that my taxes have been recalculated and that I now owe instead of getting a refund when they sh on ups have taken away $10,000 worth of income

VolvoGirl

Level 15

Can you explain more? By Online do you mean on Turbo Tax or at the IRS? Did you have unemployment? You can now deduct up to 10,200 from unemployment. So that could be why your income went down. But that will give you a bigger refund. Are you sure you had a refund change to a Tax Due? Have you filed yet? Did you file before the unemployment exemption?

CoralboundAuthor

Level 2

I was on unemployment, I filed the end of February through Turbo Tax, the where’s my refund site just today says that I owe instead of getting a refund. I should be getting a larger refund after the went back and deducted the $10,300 from my income. Also, I had taxes taken out for the first five months I was unemplyed

VolvoGirl

Level 15

Check your 1040 line 30.

A common adjustment is if you claimed the Recovery rebate credit on 1040 line 30 when you already got the Stimulus payment or got the second one after you filed or reported the wrong amounts or entered the wrong amounts in the 2 boxes. If you entered the total you got for both rounds in the same box it would think you didn't get the other one. The IRS knows how much they already sent you. You might have tried to claim it again on line 30.