@AL2880 - I wonder if there is a misunderstanding on how this works -
you are eligible for the 3rd stimulus or the Recovery CRedit, but not both. The rules on the 'haircut' were publically announced in March, 2021 by Congress and well circulated in the news so there was plenty of time all during 2021 to manage AGI as necessary.
As I assume you are single, Line 30 (the Recovery Rebate Credit) is calculated as follows:
1) $1400, which is reduced on a straight-line basis if your AGI is between $75,000 and $80,000, If your income is over $80,000, you are not elgibile.
2) LESS what you received last year,
3) but not less than zero, meaning you do not have to return what you already received.
How much did you tell TT you received for the 3rd stimulus? THAT is the error I constantly see on these boards: what was entered by the taxpayer when prompted by TT does not match the IRS records of what it sent. When that discrepancy occurs, the IRS is going to adjust your tax return to match its records. They won't let you get more money than you are entitled to.
if you provide the following, I can be more precise in what occurred:
1) what is on Line 30 of Form 1040
2) what is your AGI (this is an anonymous board, I only need precision if your AGI is between $75,000 and $80,000)
3) confirm it was just you on the tax return
4) what did you receive for the 3rd stimulus last spring (please review your bank account records, do not do from memory)
What do you mean TT didn't adjust your stimulus until the IRS rejected your return. If the IRS accepted your efile, they may have 'adjusted' your return, but they would not have 'rejected' it. Once submitted, TT doesn't adjust anything.
