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Unexpected tax refund
A couple weeks ago we received an unexpected refund from the IRS, the stated reason being, "Excess advance premium tax credit repayment." While this is certainly a nice surprise, why didn't Turbotax figure the amount correctly in the first place? What else did it get wrong? Does this mean I don't owe the amount deferred until Dec. 31, 2022, i.e. the amount on Schedule 3, line 13 and Form 1040, line 31?
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‎July 12, 2021
6:44 PM