I got the same letter. Here is what I have been able to decipher from reading on the Turbo Tax Community discussions and my own situation:
1. Although eligible, we did not receive any $1400 payments last year for us as couple. We would have received $2800 total. I downloaded all transactions from our personal bank account for 2021 to confirm for myself we didn't receive any payments.
2. I have tried to call the IRS after receiving the CP11 letter stating we owed more taxes due to an error on the calculation of submitted 1040 form. I couldn't find any errors on my submission so then I started researching.
3. In this year's Turbo Tax release, as I understand it, the software "thinks" you have received at least one payment of $1400. If you process your return with the information defaulted AND then enter $2800 as what you like to be credited to you the software says you OWE money rather than RECEIVE a credit. SOOOOO, in my case it thinks I am claiming three $1400 credits rather than two. AGAIN, I WANT TO CLEARLY STATE THAT IS THE WAY I UNDERSTAND IT.
4. RECOVERY REBATE CREDIT WORKSHEET form seems to work correctly IF you really did receive a payment of either $1400 or $2800. In my case, the disconnect for me is that we have not received ANY PAYMENT during 2021. Hence, the IRS thinks we have received at least one $1400 and says that my submitted return has a calculation error.
5. I have researched the IRS website and trying to determine how to trace any payments made to us. It states 4-6 weeks for that search to occur.
6. In the meantime, I waited 53 minutes on HOLD to be told no specific answers can be given to a caller about this issue and their account. Hence, I am now initiating the TRACE PAYMENT.
