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Retirement tax questions
TurboTax figured the amount differently because Congress changed the law after you filed your tax return. The TurboTax calculation was correct at the time that you filed. The IRS is now going through all the tax returns that were filed with repayment of excess advance premium tax credit and sending additional refunds.
@tovaface wrote:
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?
No, it does not mean that. The refund that you got is for the additional tax on Schedule 2 line 2. You still owe the deferred tax on Schedule 3 line 12e. Half of the deferred tax is due by December 31, 2021, and the other half by December 31, 2022.
‎July 12, 2021
7:00 PM