Thank you Mike for providing the line by line analysis:
The bottom line conclusion is that Turbo Tax is not at fault. It does not have incorrect calculations on the Recovery Rebate Credit Worksheet. I entered an incorrect number on the form (on line 16).
You don't have to spend time reading my step by step analysis below. Thanks again very much for your help.
Following this with my actual situation in red (mainly the additional dependent under 17):
line 7 $2,400 of the worksheet (assuming no kids) $2,900
line 11 $178,495 your AGI.
line 13 of the worksheet should have been checked yes
line 14 ($178,495- $150,000 = $28,495 x 5% = $1425
line 15 - line 7 less line 14 = $975 $1,475
line 16 actual EIP 1 that you got. this you entered - maybe this is where the error occurred (you may have entered $600 when according to the IRS records you actually got more than $975. this is how you would have gotten an excess credit of $375 that the IRS wants back. of course, the IRS could be in error of the amount you received) I manually posted $2,900. Not sure where I got that number. I just checked with IRS.gov/account and apparently I received $1,450 for EIP 1 and $622.75 for EIP 2 for a total of $2,072.75.
line 17 line 16 less line 15 but not less than $0 So, with $1,475 in 15 and $1,450 in 16, line 17 is $25
if line 16 is more than line 15 you don't have to pay it back . No, it's not, so I have a credit for $25
line 10 $1,200 Actually line 10 is $1,800
line 18 line 10 less line 14 but not less than $0 = 0 Line 10 minus Line 14 is $375
line 19 actual EIP 2 you got which was $622.75
line 20 line 18 less line 19 but not less than $0 = 0 Line 18 minus Line 19 is negative
if line 19 is more than line 18 you don't have to pay it back.
So, line 17 is $25 and line 20 is $0, therefore the total credit I can use is $25, as opposed to the $375 credit I claimed on my return. Instead of amending my return, I'll simply pay them the total $378.32 per their notice!
