turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Did not received full amount of 3rd stimulus. Recovery Rebate credit 2021-

I do married filling jointly. I received a letter 6475 stating  total 2021 EIP = 2100$.
(my understanding is : we should get 2800 together - 1400$ each as per eligibility requirement for 3rd stimulus)
while filing with turbotax- it auto-populated as a diff of 700$ on line 30.
i filed the tax- received a notice CP-12
it does not give clear explanation on recovery rebate credit and only showed exact same calculation as filed.
Any advise please.
thanks!

1 Best answer

Accepted Solutions

Did not received full amount of 3rd stimulus. Recovery Rebate credit 2021-

@Drmfsn -  did the IRS remove the $700 and reduce your refund by that amount?  it sounds like that is what you are stating.

 

1) go back to your bank account statements from last March - May, 2021 and see how much the IRS direct deposited.  Please do not do this from memory.

2) that Letter 6475 - normally there are TWO letters, since you filed joint, with one letter addressed to each spouse.  Each letter would have had $2100 on it, so that I wonder when you look in your bank statements, there was $4200 deposited.

3) did you have a dependent in 2020 that is not on your tax return in 2021? 

4) you are correct that you are entited to $1400 per person but from that you must subtract what was already received and I suspect that is $4200.  

5) if you received $4200 and were entitled to $2800, then is no requirement to return the $1400 - in otherwords, Line 30 can not be less than zero.

 

is that what happened? 

View solution in original post

2 Replies

Did not received full amount of 3rd stimulus. Recovery Rebate credit 2021-

@Drmfsn -  did the IRS remove the $700 and reduce your refund by that amount?  it sounds like that is what you are stating.

 

1) go back to your bank account statements from last March - May, 2021 and see how much the IRS direct deposited.  Please do not do this from memory.

2) that Letter 6475 - normally there are TWO letters, since you filed joint, with one letter addressed to each spouse.  Each letter would have had $2100 on it, so that I wonder when you look in your bank statements, there was $4200 deposited.

3) did you have a dependent in 2020 that is not on your tax return in 2021? 

4) you are correct that you are entited to $1400 per person but from that you must subtract what was already received and I suspect that is $4200.  

5) if you received $4200 and were entitled to $2800, then is no requirement to return the $1400 - in otherwords, Line 30 can not be less than zero.

 

is that what happened? 

Did not received full amount of 3rd stimulus. Recovery Rebate credit 2021-

Thank you @NCperson  for your response and detailed explanation
i will look into my statements and verify info. 
and yes there was a dependent in 2020 but none in 2021.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v