Like many others, I got a letter than the IRS found a miscalculation. "We changed the amount claimed as Recovery Rebate Credit on your tax return". I went from a federal refund of $1355 to owing $1145.
In Turbo Tax, it says I received an estimated first round/second round of $3195/$2195 when the actual numbers were 3400/2400, so off by $410.
In TurboTax it just says these (wrong) numbers are what we're eligible for and "The good news is, if you got more money than what we've calculated, you don't have to pay it back, There are no penalties or consequences, you just get to keep it."
Well it sounds like there were some other consequences!
If it matters, the IRS's calculations for AGI and Taxable income match my return. My AGI in Turbotax is just over $150k for 2020.
if your AGI is over $150,000 then your 1040 line 30 must be zero.
This is a common problem for users of TurboTax, finding out that their 1040 was submitted with an incorrect number on line 30.
I received a Letter saying my 1040 stimulus miscalculation as well. I paid $975 in taxes and they are saying I now owe $2,423. The letter states If you agree with the changes pay it. It offers no way to review what the problem is. I just received the letter today 9/13 and the payment is due 10/4. Is there someone I can talk to about this. If I call the IRS number I get nowhere its just a bunch of recorded menus without the ability to get a hold of anyone.
Thanks Greg
How much is on your 1040 line 30? Did you receive the full amount for both the first 2 Stimulus payments? Better check your 1040 line 30 and see if an amount is listed. That's been a problem. A common adjustment is if you claimed the Recovery rebate credit on 1040 line 30 when you already got the Stimulus payments or got the second one after you filed. Or you might have answered the Stimulus questions wrong and tried to claim it again or some more on line 30. So the IRS took it off because you already got it. They know they sent it to you.
If you claimed a missing stimulus payment on your return but the IRS took it off you have to ask the IRS. They think they already sent it to you. Maybe it went to an account you don't remember. Or you got a check or a card. It was probably easy to miss the debit card in the mail and think it was junk mail. They have to put a trace on it.
How to put a trace on a missing 1st or 2nd Stimulus payment. IRS for Payment Issued but Lost, Stolen, Destroyed or Not Received
See question F3 here, you can expand it to see how to put a trace on it.
I had 2400 listed in the box 30. Which is the amount they are requesting back.
In the software is this the questions asked?
Enter your total first round payment issued april-november 20
Enter your total second round payment issued dec 20- feb 21
It looks like if you enter the amount of your first and second stimulus payments in answer to these two questions it will calculate box 30 for the total of those two amount and then make you pay taxes on what you received.
so my box 30 should be $1800 because I received $1200 and then $600 for a dependent
I am not sure why I had $2400 in that box 30 when I initially did my taxes
The payment I received on March 17 2021 should fall to the 21 tax year I think from what I read.
Yes, there should be 2 boxes. Did you already get the full amounts for the 1st and 2nd rounds? Are you Single or Married? Any Dependents under 17? 2,400 could be the first one for Married Joint. You might have entered the wrong amounts received in the wrong box.
The 1st Stimulus payment was 1200 (2400 joint) and 500 for each dependent under 17.
The 2nd round was 600 per person.
Yes but for some reason I only received $1200 and $600 even though married filing jointly. I logged into both my wife's and my accounts on the IRS website and both logins say the same information.
Looks like I am going to have to contact the IRS because I paid $900 or so and I should have paid $1500 based on that information.
For some reason I had 2400 in that box and it said I owed 2400 back on the C11 letter.
In reality I should owe the difference between the $900 and the $1500
So I guess I need to make an appointment and talk to the local IRS people. I couldn't get anyone on the phone at the number provided.
We were typing at the same time. No the Stimulus payments are not taxable. Line 30 is only if you qualify for MORE. Not what you already got.
How did you file? Single with one dependent? Then you should have received $2,900.
#1 $1,200+500
#2 $600+600
Were you missing some?
I filed jointly and my wife and I have one dependent.
But if I look at what was actually paid to me via the IRS website it was $1200 and then $600
My March 2021 Stimulus was higher than what should have been so maybe they added more on to it?
This is such a mess
Well when you answer the two questions I posted above it totals the amounts you entered and puts the total on line 30.
And then the amount I owe goes up from the $900 to $1500
If you filed a joint return and then look at the taxpayer and spouses separate accounts online at the IRS you will find the total stimulus split into two parts one for him and one for her. On the tax return when you file a joint return you had to enter the total amount you both received. If you had a qualifying dependent on the return and the stimulus for that person will also be split. So for a Married couple with one qualifying dependent under the age of 17 they would have gotten $1200 per person +500 for the child for the first stimulus for a total of $2900. On the IRS account the taxpayer and the spouse would have shown 1200 for each of them plus $250 each for 1/2 of the child. The same goes for the second stimulus of $600 per person on the return so in the online account the taxpayer and the spouse would each say $600 for themselves +300 for the child for a total of $900 per person or $1800 combined.
That is not how it shows, i.e. split in half. I printed out both and they both say the $1200 and the $600
Guess Ill head to a meeting with the IRS
Also like i said above if I enter the $1200 and the $600 in answer to the two questions it puts $1800 in line 30
anyway someone can explain this from Turbo tax perspective? Doesn't make sense.
And when line 30 shows $1800 its makes what I owe to the IRS increase from $900 to $1500
I searched my checking account records and I only received a deposit for $1200. My dependent for some reason received $1400. She is not under 17 but is a dependent as she is permanently disabled. CP
Then I received a check in March of this year for another amount. which would be stimulus check 3 and should be for 2021 taxes.
This is a freaking mess. **bleep** government.
Check your tax account on the IRS website - https://www.irs.gov/payments/view-your-tax-account
If you only put your $1,800 (1200+600) in Turbo Tax then it would give you the $1,800 (1200+600) for your spouse. You need to enter the $3,600 total for both of you. Check your bank accounts again. The IRS thinks they sent you $3,600 (1,800 each). If you only entered the 1200 deposit you think you got, that's why line 30 had 2400 on it for the missing amount. You don't get the first 2 amounts for child if they were over 17 on Dec 31, 2020.
If you can't find deposits, checks or debit cards for the missing $2,400 they will need to put a trace on it.
Your dependent should not have received any Stimulus payments in their own name. The $1,400 3rd one should have come to you in your ssn. Did they file their own return and say they were NOT a dependent?
How to put a trace on a missing 1st or 2nd Stimulus payment. IRS for Payment Issued but Lost, Stolen, Destroyed or Not Received
See question F3 here, you can expand it to see how to put a trace on it.
She is an Adult but we have guardianship of her. She is considered a dependent.
I have no idea why her account received money from the IRS
I can not believe this, What a mess.
The government cant even give handouts correctly and document it........
The IRS website shows 1200, and 600 on both my wife and my seperate IRS accounts.
I have went to the website at the IRS and the information is listed the same for me and my wife but no other information. We only received the $1200 and then the check in March 2021 which should have been the 3rd stimulus I think??
I guess I will schedule to meet with them
Did you follow my post right above? I think I figured it out and explained it pretty well (if I say so myself), lol.
If the disabled adult receives Social Security benefits then that’s why she got the third stimulus check. If you claimed her on your return you would’ve gotten the third stimulus check.
My daughter received stimulus checks but it had nothing to do with the 3rd one we received.
My daughter is qudrapalegic, no she did not file. she is a dependent on my taxes. you check the box for her being disabled. We have guardianship of her.
The IRS is reporting payment but both my wife account and mine say the exact same thing as far as 1st 2nd and 3rd stimulus checks and both accounts say we owe the 2400.
My disabled daughter does receive a small monthly SS check and also received 1400 in her account.
I have no idea , again this is a mess. You all are asking question that I have clearly answered. I WENT TO THE IRS WEBSITE AND IM TELLING YOU WHAT THEY ARE REPORTING.
Also when I answer the two turbo tax questions on what we received. 1200 and 600 respectively for the first two stimulus checks my tax owed increases and the box 30 reports that 1800.
I think something is wrong with the software personally
Yes we are understanding. Forget about the new 3rd one. The IRS accounts are showing you and you wife each got 1,800 for a total of 3,600 joint.
But you must have only reported the 1200 deposit you got. So Turbo Tax thinks you were missing 2,400. Ok so far?
You need to have the IRS put a trace on the missing 2,400 they say they sent you.
Now you are saying you entered 1200 and 600 for the first two Stimulus checks. That is only for one of you. What about the other person's 1200 and 600? Why didn't you enter theirs? That's why it's giving you $1,800 on line 30.
You need to enter 2400 (1200+1200) for the first one and 1200 (600+600) for the second one.