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Deductions & credits
Hi Lena- I accurately entered all of the info when I did my 2020 taxes, we had only gotten 1 payment of $1450.00, so TT calculated that our RecoveryRebateCredit was $4350.00
Side note - We've still not gotten a 2nd or 3rd payment, but the IRS has now sent us a letter saying that we owe back $1450.00 towards our 2020 tax return because the RRC wasn't calculated accurately.
I see you keep mentioning that it should calculate right if the info entered is right, and it was FOR SURE accurate on my end, as far as I accurately entered what we received. But it didn't calculate right on TT's end and thus on my 1040 return.
So now what???
May 10, 2021
12:39 PM