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I got a letter saying that the IRS changed the amount claimed as Recovery Rebate Credit error was because one of the following:
Is this an error in calculation on Turbo Tax's part, or the IRS?
They are taking away the Recovery Rebate Credit on line 30 of out 1040SR resulting in not only losing our refund, but now we owe the IRS
Can you help explain what is happening here?
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It depends. Since we cannot see your tax return, we cannot exactly pinpoint the reason. There could be a lot of different factors that cause the IRS to adjust your credit.
Same thing happened to us...We did not have any issues but did have back taxes. Still the amounts are not correct. Have to wait to get the letter on 7/26 to determine reasons that the math did not add up.
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