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Per the IRS, if you entered an amount on line 30 (Recovery Rebate Credit) but made a mistake in calculating the amount, the IRS will calculate the correct amount of the Recovery Rebate Credit, make the correction to your tax return and continue processing your return. If a correction is needed, there may be a slight delay in processing your return and the IRS will send you a notice explaining any change made. There is no need to amend your return or take any further action.
2020 Recovery Rebate Credit — Topic G: Correcting issues after the 2020 tax return is filed
Per the IRS, if you entered an amount on line 30 (Recovery Rebate Credit) but made a mistake in calculating the amount, the IRS will calculate the correct amount of the Recovery Rebate Credit, make the correction to your tax return and continue processing your return. If a correction is needed, there may be a slight delay in processing your return and the IRS will send you a notice explaining any change made. There is no need to amend your return or take any further action.
2020 Recovery Rebate Credit — Topic G: Correcting issues after the 2020 tax return is filed
The full amount of the 1st stimulus checks that were sent out in 2020 was $1200 for an adult and $500 per child under the age of 17. The 2nd checks which were sent out at the very end of 2020 or early in 2021 were for $600 per person--adult or child.
If you entered incorrect amounts in the recovery rebate credit, the IRS is cross checking and will adjust your refund.
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