stimulus

Forum|Forum|4 years ago
January 28, 2022
2 replies
11 views

I received stimulus payments last year just to have them taken beck after I filed my taxes. My return was shorted exactly the amount of my stimulus payments. Why was this amount taken back??

Not A Product Question

LenaH

Alumni - Expert

If you did not receive the stimulus payment or did not receive the maximum amount, you may have been eligible to claim the 2020 Recovery Rebate Credit when you filed your 2020 tax return. However, if you received the payment and then took the credit, the IRS will automatically remove the credit from your refund.

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xmasbaby0

Level 15

Maybe you are just misinterpreting the calculations.

The "refund monitor" starts off by giving your all of the stimulus money and all of the child tax credit because the software does not know yet that you received stimulus money or that you received some advance child tax credit payments. That gets reconciled later.

That "refund monitor" changes as you enter information. That is normal. And you cannot take it seriously until you enter ALL of your information---even though it is so tempting to believe that the highest amount is the "right" refund.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**