topic Re: IRS changed refund amount. in After you file

IRS changed refund amount.

ArtZander — Mon, 24 May 2021 13:48:53 GMT

The IRS adjusted the amount of my refund (+11.43). Do I adjust the value in the Turbo Tax 2020 return or do I have to remember this and make the adjustment in the 2021 return?

Re: IRS changed refund amount.

Critter-3 — Mon, 24 May 2021 13:58:04 GMT

Since it includes cents that is probably interest they paid you due to the delay in the processing ... it is taxable interest and they should send you a notice in January as a reminder to include it on the 2021 return.

Re: IRS changed refund amount.

ArtZander — Mon, 24 May 2021 19:29:46 GMT

Thank you for the very prompt reply. It does make sense that is the interest generated from the refund. I have never had a delay in receiving a refund before, so I have never seen an interest payment. I'll be on the lookout for the documentation from the IRS and add it to the folder for my 2021 taxes.