My actual federal tax refund was exactly $1,200 less than what TurboTax indicated it would be. Anybody else have this happen?

[Bsch4477]

My guess is that you claimed a stimulus payment that you had already received. 

[DanaB27]

If the IRS made an adjustment to your refund then you will get an explanation statement. 

If you claimed the Recovery Rebate Credit (line 30 of Form 1040) the IRS might made an adjustment because they show it as received in their records. 

If you received Notice 1444 in the mail but have not received your payment as mentioned in the notice, then you need to request a trace to be able to claim the Recovery Rebate Credit on your 2020 tax return. Please see How do I request a payment trace to track my first or second Economic Impact Payments?

Also, you can call 1-800-304-3107 to find out if you had an offset that affected your tax refund. Please see Treasury Offset Program  for additional information.

[ExRamsFan]

I have the same issue but have not received an explanation from the IRS.  Since the refund was issued on 4/21 the statement is probably in the mail.  I'll add to my response when I get the explanation.  Glad I am not alone!

[ThomasM125]

$1,200 is the amount of the first stimulus payment for tax filers. It is possible that you indicated that you didn't receive it when you had, or the IRS sent it to you but you never received it. In either case, they will resolve the issue eventually, but you should get a correspondence from them explaining why you didn't get the payment.