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Confused about TurboTax calculating stimulus payments and credit
Got to the end of the Federal review, and it says "Let's double-check the amount you received". Then it says:
Based on the tax info you entered and your combined adjusted gross income, you are eligible for the following stimulus payments:
First-round: $3400
Second-round: $2400
Then I enter the amount we did receive, which was only $264 during the first-round.
This appeared to have no effect on giving us a credit. If I say that we go the whole $5800...no change. I only start to see our refund go up (which I assume means we're getting a credit) once I put i $198 or less for what we received.
So, I'm confused, if TurboTax calculates that we were due that money, why am I not getting the credit for not receiving it?
‎April 4, 2021
9:09 AM