@Kurt8 wrote:
Turbo Tax is not calculating the Recovery Tax Credit correctly. I have confirmed this with two different returns. One where AGI for 2019 exceeded $75K, but was below $75K in 2020. Another where AGI qualified in 2019, but not in 2020. When will this be corrected? If necessary, can I override the amount in forms view?
TurboTax calculates the Recovery Rebate Credit using the IRS Recovery Rebate Credit Worksheet. The credit is based on the 2020 federal tax return information and the 2020 AGI on the 2020 Form 1040 Line 11. Any eligible credit is entered on Form 1040 Line 30.
Go to IRS Form 1040 (2020) Instructions page 59 for the Recovery Rebate Credit Worksheet - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=59
