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Level 1

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

 
7 Replies
Level 20

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

Are you including the Extra  39.99 Refund Processing Service charge (44.99 in California) to have the fees deducted?  And federal and state refunds come separately from different places at different times.  So how much is missing?

Level 1

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

360.00 seems like a bit much to be missing

Level 20

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

If the IRS adjusted your return they will mail a letter explaining what they changed.

 

I would check over your return and see if you can see anything wrong especially in the payments section 1040 Schedule 5.  Make sure you agree with all the amounts listed.   Like is the difference the same or close to the refund you got last year?  Maybe you put down that you applied last year's refund to this year?  Or you put down you made a payment with an extension or paid an estimated payment that you didn't make?

 

A common error is showing an estimated payment 1040 schedule 5 line 66 you didn't make or payment with an extension (line 71) you didn't send in.  Sometimes people start an extension form on purpose or accidentally and an amount gets entered for a tax due to send in with the extension.

 

Or you claimed Excess Social Security paid on Schedule 5 line 72.  That happens when you are married and enter both spouse's W2s under the same name.

 

Or if you got any 1099Misc forms you didn't report it as self employment income on Schedule Cand pay the SE tax on it.  It  might have showed up on 1040 Schedule 1 line 21 for Other Income instead of line 12 business income.

 

Or the IRS changed your income.  A common thing they change is the taxable amount of any 1099R for pension, 401K or IRA distributions or conversions on 1040.  And if you get Social Security and they increase some other income it will make more of your SS taxable. 

 

 

Level 20

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

An even $360?  That could be a transposition error in your payment entries like for withholding or estimates paid.  Like if you typed 620 instead of 260.

Level 3

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

Yes, TurboTax Intuit Fees & Auto Defense Was accounted for. My refund started out to be $1,332.00. After the fees were deducted, my refund was supposed to be $1,2(something). The amount auto deposited into my bank was only $571.15. Where is the rest of my tax refund?

Level 3

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

I have checked my return on the IRS website & it doesn't show any changes to my return. I haven't received anything from the IRS or TurboTax saying anything was wrong. Please Help!!

Level 19

Why doesnt my refund amount minus the amount that I PAID in fees to turbo do not equate to the correct refund amt?

@tdcljc622 

 

Check the refund amounts on your actual tax forms too......The Fed and the state refunds come separately and can be weeks (or months) apart.  There is  one TTX summary page only shows the net total.....so maybe the amount your received was only the $$ from the State, or only the $$ from the Feds.

 

Beyond that, if either tax authority changed the amount of the refund, they send you a letter explaining what they changed....and that letter can come a couple weeks later.