Previous year taxes

[vb2100]

Hello,

I used Turbotax to file my taxes (married filling jointly) via paper copy.

After several months, I received a notification from IRS that it is filled incorrectly (they did reduce the $1400, that I received in the COVID time)

I did include that ($1400 I received during COVID) in the filling process though.

I don't know why Turbotax filling turned out to be wrong.

Any help is greatly appreciated.

Thank you.

[CatinaT1]

What tax year were you filing?

[vb2100]

Hi Catina,

It was for 2021.

Thank you

[CatinaT1]

Had you already received the covid stimulus? You only added it to your return if you had not received it.

[vb2100]

Yes, I did receive $1400, which I did mention while filling the form on Turbotax.

That was even in box 30 "Recovery rebate credit. See instructions"

Should I not include it if I received it?

I recall being asked if I did receive the stimulus and I think I selected yes and mentioned the amount.

[CatinaT1]

You only added it to your return if you had not received it. That is why the IRS reduced your refund by that amount.

[vb2100]

So, COVID stimulus is not actually a stimulus, but giving the money in advance

correct?

[VolvoGirl]

@vb2100   You must have answered a question wrong or entered the amount wrong.  1040 line 30 for the Recovery Rebate Credit was only if you did not already get the $1,400.

1400 was the 3rd Stimulus payment.  It came out starting in March 2021.  If you didn't get it you claim it on your 2021 return line 30 as the Recovery Rebate Credit. But Line 30 is only if you didn't get the full amount or qualify for more. 

[DawnC]

You got the advance payment, so you did not need to include it again.    Only those that did not receive the advance payment should have claimed it.  

[vb2100]

Thank you for your help

[vb2100]

Thank you much