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Deductions & credits
@deskcomm - the calculation is quite simple:
you are eligible for the Recovery Rebate Credit or the 3rd stimulus - NOT both
1) Number of people listed on your tax return
2) TIMES $1400
3) MINUS what you received for the 3rd stimulus last year (look at your bank account statements between March and May, 2021)
4) EQUALS Line 30, but not less than 0.
Most made the mistake on #3 - not entering what they actually received when prompted by TT. Since the IRS knows what you received (since they sent it to you!), if this number does not match their records, they will reduce Line 30 by the difference, which has the effect of reducing your refund by the same amount.
does that help?
May 23, 2022
5:51 PM