Deductions & credits


@MacTigger wrote:

Does anyone know what is wrong here?


There is nothing wrong.

The program enters your stimulus tax credit amount assuming you have not received any stimulus payments.  The amount is based on the information on your 2020 tax return.

When you enter the actual stimulus payments received this reduces the amount of tax credits on your tax return.

 

The credits either increase your federal tax refund or reduce the federal taxes owed.  

Look at your tax return, Form 1040 Line 30 for the tax credits.

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.