Deductions & credits

@m-landreneau-27 - the adjustment is the Recovery Rebate credit.....

 

suggest going back and reviewing what you entered into TT during the interview process

 

Line 30 of Form 1040 is calculated as follows:

 

1) number of people listed on your tax return

2) times $1400

3) LESS what you already received:  oo back and review what you actually received in your bank account statements during March - May, 2021.  Please do not go from memory but actually look at the statements. this should be 'what you already received' and what you should have entered into TT when prompted during the interview process.

 

4) but not less than zero

 

5) compare the result to what is on Line 30. if they do not match, THAT is the amount of the adjustment the IRS made.  The reason they would not match is what you entered when prompted for the amount you received last year does not match what you are now finding in your bank account statement.

 

you were eligible for the 3rd stimulus or the Recovery Rebate Credit but not both. 

 

it has nothing to do with the Child Care Credit. 

 

if you can't follow what I am asking you to do, post the asnwers to 1) - 5) and I can explain