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Level 2

Question

stimulus taxation

Forum|Forum|4 years ago
February 2, 2022
2 replies
7 views

Every IRS mention of the third stimulus payment ($2800 for couples) says it will NOT affect our refund.

When Turbo Tax asks me to enter a number ($2800) my refund goes down by that exact amount. If I put in 0 it goes back up by the same amount. The IRS says it shouldn't. Did TT make a mistake or am I not understanding something?

Level 13

You did not make a mistake. The refund estimator at the top of your page reflects the amount based on all information at any given time. When you input you and your spouse, TurboTax automatically includes the Recovery Rebate Credit (stimulus payment) in the calculation. When you enter that you already received the stimulus payment in 2021, the calculation then goes down by the amount you received.

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Level 15

If you enter zero that means you didn't get the stimulus previously. So you get it in your refund. That would be false.