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Why does the IRS say there is a calculation error on my 2020 form 1040 when it was automatically calculated by TurboTax?

This is in direct relation to the Recovery Rebate Credit.
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Why does the IRS say there is a calculation error on my 2020 form 1040 when it was automatically calculated by TurboTax?

This means that they are saying that you received one or more of the stimulus payments and you are saying that you did not receive them.

 

TurboTax calculated based on the answers to the interview questions.

Start with IRS Where's My Payment site to see what payments you received.  If a check or credit card was mailed, you may not have received it.  You can have the IRS trace that piece of mail.


 

Why does the IRS say there is a calculation error on my 2020 form 1040 when it was automatically calculated by TurboTax?

The IRS uses the term "calculation error" generically to refer to many kinds of errors on tax returns, which often include software user errors.

 

 

https://finance.yahoo.com/news/got-irs-math-error-letter-152411992.html?fr=sycsrp_catchall

 

 

TurboTax has no way to know whether you received the 1st and/or 2nd EIP payments.   When you prepared your tax return you were asked in the Federal Review section if you had received those payments.   If you said you did not receive the payment(s) then the stimulus payment was put on line 30 of your tax return as a recovery rebate credit.  The IRS cross checks every return with an amount on line 30.  If the IRS sees that they already issued the EIP payment(s) to you then they adjust your refund or you even end up with tax due.

 

Check your IRS account---does the IRS say they sent you a payment that you did not receive? (If you filed a joint return you need to check for both spouses.)   If so you can ask for a trace to be put on the payment.

 

https://www.irs.gov/payments/view-your-tax-account

If you were issued a payment and have not received it, see How do I request a payment trace to track my first or second Economic Impact Payments?

**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.**

Why does the IRS say there is a calculation error on my 2020 form 1040 when it was automatically calculated by TurboTax?

Hello TurboTax, 

 

"The shoemaker's son has no shoes".  MBA finance here and I screwed up line 30.  I'll pay the tax due as soon as I get the bill in a few days.

 

Suggestion:  The IRS website lists all stimulus payments sent:  #1 & #2 in 2020 and #3 in 2021.  It would have been helpful to show this link in TurboTax that so us seniors would not have to depend on our memory.  Judging from Google comments, there were numerous "senior moments" about line 30.  At least Uncle Sam isn't slapping on a penalty for our (my) mistake.

Thank you for a good product,

{PII removed}

[email address removed]

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