IRS claims turbo tax incorrectly computed my tax return amount on form 1040sr?

[VolvoGirl]

The letter should say why.  Was it for the Recovery Rebate Credit?

The 2 most common reasons this year is you entered the wrong amount on line 30 for the Recovery Rebate Credit (3rd Stimulus payment) or line 28 for the Child Tax Credit.  Those lines are just if you didn't already get the full amount or qualify for more.  The IRS knows what they already sent you.  

A lot of people answered the questions wrong and tried to claim the credits again.  Double check your bank statements and Check your IRS account (both accounts if married)

Your Online Account | Internal Revenue Service

[jwilson7556]

What section in TurboTax is the recovery rebate credit addressed? I don’t remember filling any blanks while using TurboTax and am unable to locate it to make the corrections.

[VolvoGirl]

To get to the stimulus questions in TurboTax at any time, you can search for stimulus or recovery rebate credit then hit ENTER and there should be a Jump to link

If you are trying to trigger it,

Click on Other Tax Situations at top

Click on Let's get started

Answer some questions then Continue

Then click on Let's keep going

Next screen is for the Third Stimulus, if you qualify

If you did not get prompted to enter your stimulus information, that means you either:

1. Filed as a dependent being claimed on another tax return, or 
2. have an AGI too high to claim the recovery rebate credit

[VolvoGirl]

Do you have an amount on 1040 line 30?   Did you get the 3rd Stimulus payment last year?  Line 30 is only if you didn't get the full amount or qualify for more. 

EIP3 The 3rd Stimulus payment started going out in March 2021 and is for 1,400 for each person listed on your tax return, no age limit. The IRS used your 2020 (or 2019) return to send the checks out fast. If your 2021 return changes and you qualify for more you can claim the extra as the Recovery Rebate Credit on 1040 line 30. But line 30 is only if you didn't get the full amount or qualify for more. Not the amount you already got. The IRS also sent out letter 6475 to tell you how much they sent you . If you are married then each spouse should get a letter for half.

When you fill out Turbo Tax it starts out by giving you the full amount you qualify for.  Then at the end you enter how much you already got so you don't get it again.   A lot of people forgot they got the deposit last March - May.  Or missed one payment and entered the wrong amount.  Then when the IRS reduces their refund and they check their bank accounts they have been finding the payments.