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jbondgirl
New Member

My refund was listed as 529 with Turbo. I got 151 back. Where is the rest of my funds? The IRS said Turbo did something wrong?

This is for my federal tax return. The IRS deducted hundreds saying Turbo calculated incorrectly. Please help, this is very frustrating and makes me not want to use this software again.
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3 Replies

My refund was listed as 529 with Turbo. I got 151 back. Where is the rest of my funds? The IRS said Turbo did something wrong?

MY REFUND WAS LESS THAN I EXPECTED

 

https://ttlc.intuit.com/community/refunds/help/why-is-my-direct-deposited-refund-or-check-lower-than...

 

There can be a number of reasons why your refund was less than the amount you expected. First of all, look carefully at your actual tax returns. Next——check the IRS refund site https://www.irs.gov/refunds to see what the IRS says they issued for your refund.  Sometimes the IRS reduces your refund. If the IRS reduced your refund they will send you a letter in several weeks.

 

 

There is sometimes confusion about the amount of refund to expect when users misinterpret the “summary” they saw in TurboTax. The amount of your refund is on your tax return.  Federal refund is on line 35a on Form 1040  State tax forms are all different so we cannot tell you what line to look at on your state form.  BUT it is important to actually LOOK at your tax return forms yourself and see the amounts of your tax refunds and/or tax due.  A lot of confusion would be avoided by doing that.

 

Be aware also that your Federal refund and state refund do NOT come together.  Federal and state tax returns are processed by two completely separate entities.  There is no rule as to which one will come first,

 

It is also possible that your state reduced your refund for debts owed in your state—if the state reduced your state refund you will receive a letter from the state.

 

 

 

 

ACCURACY GUARANTEE

 

TurboTax provides do-it-yourself tax software.  TurboTax guarantees the calculations done by its software.   The information entered into that software is data entered by you, the user.   TurboTax cannot and does not check that information against any outside sources, so TT cannot know if you entered your information completely or correctly.   It is up to you to enter all of your information correctly and completely, and to check your tax return before you file it.  If you forget to enter some income, or enter it incorrectly, enter it in the wrong place, etc. then you may end up owing additional tax to the IRS and/or state.  TurboTax does not pay the additional tax you owe.   If TurboTax’s calculations were incorrect, and you owe penalties and/or interest, then TT will pay the penalties and interest.  The tax due is always owed by you, and must be paid by you.

 

If you need to enter a claim for the accuracy guarantee:

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/submit-claim-turb...

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
jbondgirl
New Member

My refund was listed as 529 with Turbo. I got 151 back. Where is the rest of my funds? The IRS said Turbo did something wrong?

529 was just the federal return.  I realize that the IRS might deduct something after submitting but I have never had this happen (it's usually the same amount every year), and I've never been told Turbo miscalculated.

RachelW33
Employee Tax Expert

My refund was listed as 529 with Turbo. I got 151 back. Where is the rest of my funds? The IRS said Turbo did something wrong?

The IRS should send you a letter detailing exactly why they changed your refund amount.  

 

Please see this TurboTax Help Article: What is the TurboTax 100% Accurate Calculation Guarantee and How do I Submit a Claim?

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