After getting the IRS explanation letter yesterday and checking the figures, the answer to our refund issue was that the original refund figure that TT computed and submitted to the IRS included a "Recovery Rebate Credit" amount. The IRS letter indicated that that credit did not apply to us due to our "AGI of over $150,000 married and filing jointly", or, "the amount was computed incorrectly (683D)" and they reduced our return accordingly.
I reviewed the "Recovery Rebate Credit" worksheet in the TT forms and the numbers look correct, so, since I don't know the regulations regarding the RRC, I don't know if Turbo Tax is wrong or the IRS is wrong.
The expected refund amount that TT submitted minus the RRC amount is the exact figure that was refunded.
