The Recovery Rebate Credit makes it possible for any eligible individual who did not receive an Economic Impact Payment (stimulus payment) to claim the missing amount on the following tax return.
When you prepare your return, TurboTax assumes that you haven't received stimulus payment, so it begins giving you the maximum amount.
When you enter the actual amount received, it adjusts your refund to account for that.
If you enter the wrong amount received, the IRS will adjust the amount of your refund/tax due based on what they have in their records.
