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takemydinero-
Returning Member

Recovery Rebate Credit 2021 worksheet question

When I answered the question about the amount received for 3rd stimulus payment, I answered what I received $2100.  TurboTax placed $700 as credit (our adjusted gross income is below $150k and has been below in both 2020 and 2019).  I just received a letter from IRS stating I owed $700.22.  I can't get through to IRS so I went ahead and made the payment because it had due date of May 6, 2022 and I don't want any trouble.

Has anyone else had this issue?

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1 Reply

Recovery Rebate Credit 2021 worksheet question

I appreciate this is an old inquiry, but no one responded.

 

I expect there are 3 of you on the 2020 tax return - so you received a letter stating you received $2100, but your spouse should have received a similar letter. You were to add the two letters together when asked how much you received! (Check your bank statements from March - May, 2021!)

 

then in 2021 were there only 2 of you on the tax return?  $1400 times 2 people is $2800 less the $2100 you already received left you with a credit on Line 28 of $700.

 

but what should have occured is that there were 2 of you on the tax return ($1400 times 2 people or $2800) less the $4200 you actually received. Line 28 can't be less than zero.  

 

So LIne 28 should have been zero and not $700. 

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