Hello,
I submitted my tax return on TT online and my standard return was for $1200 but when I put in the Stimulus it went down to $600? Will I need to do an amend?
Thank you,
Teresa
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No, before you entered the stimulus payments received the refund included the amount of Recovery Rebate Credits as if you didn't receive any stimulus payments. Once you entered the stimulus payments it took the Recovery Rebate Credit off and showed the correct amount.
If you entered the incorrect stimulus amount then you will need to wait and see if your return gets accepted or rejected. Please be aware that the IRS currently won't start processing returns until February 12, 2021.
No, before you entered the stimulus payments received the refund included the amount of Recovery Rebate Credits as if you didn't receive any stimulus payments. Once you entered the stimulus payments it took the Recovery Rebate Credit off and showed the correct amount.
If you entered the incorrect stimulus amount then you will need to wait and see if your return gets accepted or rejected. Please be aware that the IRS currently won't start processing returns until February 12, 2021.
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