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TYs2
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My refund is 1400 dollars less.

my refund is 1400 dollars less. I would like to know why this is. i got a notification i forgot the recovery rebate credit and i know 147 dollars was taken out for payment. That is still a good chunk missing in my refund.

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2 Replies

My refund is 1400 dollars less.

1400 is for the 3rd Stimulus payment for each person.  It is on 1040 line 30.   Line 30 is only if you didn't get the full amount or qualify for more. 

 

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.

 

Double check your bank statements and Check your IRS account to see when and what they sent you (check both spouse's accounts if married)

Your Online Account | Internal Revenue Service

 

If the IRS thinks they sent it to you but you didn't get it request a trace for a missing third Stimulus payment

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-p...Your Online Account | Internal Revenue Service

My refund is 1400 dollars less.

You are eligible for the Recovery Rebate Credit or the 3rd stimulus - NOT both

 

here is how Line 30 is calculated: 

 

1) Number of people listed on your tax return 

2) TIMES $1400

3) MINUS what you received for the 3rd stimulus last year (look at your bank account statements between March and May, 2021)

4) EQUALS Line 30, but not less than 0.

 

Most made the mistake on #3 - not entering what they actually received when prompted by TT.  Since the IRS knows what you received (since they sent it to you!), if this number does not match their records, they will reduce Line 30 by the difference, which has the effect of reducing your refund by the same amount.

 

does that help?

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