IRS Letter 6475

[ginad2]

I found this section to be very confusing.  My husband I filed married jointly and each received letters saying we received $2100 so initially I thought I should enter $2100, the amount for one of us because if I added them together, it gave us $4200 and that was over the $2800 amount it said we should have received for married jointly.  As I thought about it some more, I am thinking they must have added the child credit we received for one dependent onto our totals, and gave each of us half. ($1400 for one child, divided into half, which is $700 - and then added that onto each of our totals - the reason for $2100 each)  So we did receive the full amount!

I am glad I caught this, as I was going file saying we only received $2100 and then we would have probably had to do an amendment.  Can anyone confirm this?  It sounds like this question is going to be a problem for numerous filers if Turbotax doesn't clarify it in easier to understand terms. 

[VolvoGirl]

It's not for the Child Tax Credit,  that is a separate thing.   You got 1,400 for each person on your 2020 tax return.   1,400 x 3 = 4,200.    Then you each got a letter for half of it 4,200/2=2,100.   

The Child Tax Credit will be covered separately.   Did you get any of the Advance Child Tax Credit payments?   You get a letter 6419 for that.

[ginad2]

I guess I meant to say dependent...not child tax credit.  Confusing as they don't count the dependent separately, nor did they receive their own letter. 

[VolvoGirl]

No because you got the 1400 payment for them.   Are you claiming him as a dependent for 2021?   You have to report the total Stimulus payment you got (including their 1400) even if you aren't claiming them this year.

[ginad2]

So I enter the full amount of 4200?

[DoninGA]

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@ginad2 wrote:

So I enter the full amount of 4200?

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Yes, if that is what you received then that is the amount you have to report.

[ginad2]

and I am not claiming my child this year, so they were able to get the recovery credit on their own taxes

[VolvoGirl]

Yes they can get it on their own return.   And you can keep the one you already got for them.   That's legit.

[JimM1590]

Of course, I filed almost 3 weeks ago and got the letter today. Wheres My Refund says they cannot give me info yet.

For this letter, you said Line 30 on 1040. I got a letter saying 3500 and my wife got a letter saying 3500. Line 30 on my return is blank. I entered the amount from our bank statements of what was actually deposited. Am I correct in surmising that I entered the correct amount based off of our bank statements for this stimulus and I am probably fine in the eyes of the IRS (for this instance)?

[VolvoGirl]

@JimM1590   Which letter did you get?  6475 or 6419?   Did you have 3 dependents on your 2020 return?   And still have 3 for 2021?   The 3rd Stimulus payment was 1,400 per person.   So 1400x5 = 7,000.  That's what the IRS says they sent you.  Is that what your bank statements say too?  Then line 30 should be blank.  You got all you qualified for.  

[JimM1590]

Letter 6475, 3 kids, both checks equal $7000, we got $7000 in April 2021. So, Line 30 should be blank.

I just hate when I get things mailed for my taxes -after- I file them.

Thanks

[DawnC]

If there is nothing on Line 30, you are not taking the Recovery Rebate, so the IRS is not going to have an issue with not claiming the credit.    Are you sure you are not referencing Letters 6419?  The 6419 refers to Advance Child Tax Credit payments - those are entered in a different place (Child Tax Credit section).  

You should have Form 8812 included with your return.   Check Line 14f - it will show any advance payments you received from the 6419 letters.   

IRS Letters 6419 and 6475 for the Advance Child Tax Credit and Third Stimulus: What You Need to Know

@JimM1590

[JimM1590]

Yes, Letter 6475 lower right hand corner.

Form 8812, Line 14f shows 4800 which matches 800x6 months (3 kids, 1 of them under 6)

[DawnC]

That is correct then.  $9600 is the total of your Child Tax Credit - 2 kids at $3k and one at $3600.   You received and reported half, $4800.   The remainder is included on your tax return.   

And your recovery rebate is correct also, 5 people =  $7k.   You received it all, so no credit on Line 30.   😉

[Culloa27]

This happened to me too. Filed Wednesday, got the second letter (the one for my spouse) Thursday. So I have 2800 in box 30, although it should be 0 because now I see we did get the full amount in the 3rd round. Turbo tax says the form to amend won’t be ready until late March! 
Will the IRS correct it and send me the correct refund?