My AGI was $152,428.00. TurboTax guided me through the return and computed line 30 of my return (Recovery Rebate Credit) $4256.00...which honestly seems wrong to me on the face of it, that should have been $5600.00... but it was filed that way.
We never received any of the advanced payments, just the first two stimulus checks. IRS.gov says we qualified for $2800.00 for the third payment (1/2 of $5600) but that didn't show up on my account until late December.
Filed Feb. 4th, 2022; accepted on March 2, 2022. IRS made a correction to our Recovery Rebate Credit and deleted the whole $4256.00. We were are expecting a refund, said our payment would be in our bank account by March 14, 2022, but our total amount was reduced by the whole RRC.
I realize we made more than $150k but we made less than $160k.
from IRS.gov
No credit is allowed when AGI is at least the following amount:
- $160,000 if married and filing a joint return or if filing as a qualifying widow or widower
- Married taxpayers who file a joint return that claims two qualifying dependents and an AGI of $155,000 will have a maximum credit of $2,800
If I'm understanding this correctly, our Recovery Rebate should have been adjusted to $2800, not 0. Is this correct?
