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New Member
posted Feb 22, 2024 3:49:59 AM

Why is my deposit 200 when 318 was my return

0 3 281
3 Replies
Expert Alumni
Feb 22, 2024 5:10:05 AM

Did you have the fees withheld from your refund? When you pay your TurboTax fees with your federal refund, the TurboTax fee plus a separate Refund Processing Service (RPS) fee are deducted from your total refund amount. Therefore, your IRS-issued tax refund might be less than the amount shown in TurboTax.

 

Other possible reasons:

 

Your refund might have been offset by past-due income tax, child or spousal support, student loans, or state unemployment compensation debts. If this happens, please see IRS Topic no. 203, Reduced refund and Bureau of the Fiscal Service for more information.

 

It might be that the IRS adjusted your refund. If this happens you will get a notice explaining the changes.

 

You can also check the IRS Where’s my refund? site to see what they adjusted and how it impacted your refund. 

Level 15
Feb 22, 2024 8:31:43 AM
Level 15
Feb 22, 2024 8:35:28 AM

318-200 = 118.  $118 is the fee if you chose to have the fees for Deluxe deducted from your refund.  Deluxe was 39 for federal and 39 for state and and extra 40 Refund Processing Service charge to have the fees deducted.  Which you could have avoided by paying the fees with a credit card.