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vb2100
Returning Member

Previous year taxes

Hello,

I used Turbotax to file my taxes (married filling jointly) via paper copy.

After several months, I received a notification from IRS that it is filled incorrectly (they did reduce the $1400, that I received in the COVID time)

I did include that ($1400 I received during COVID) in the filling process though.

I don't know why Turbotax filling turned out to be wrong.

Any help is greatly appreciated.

Thank you.

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10 Replies
CatinaT1
Expert Alumni

Previous year taxes

What tax year were you filing?

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vb2100
Returning Member

Previous year taxes

Hi Catina,

It was for 2021.

Thank you

 

CatinaT1
Expert Alumni

Previous year taxes

Had you already received the covid stimulus? You only added it to your return if you had not received it.

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vb2100
Returning Member

Previous year taxes

Yes, I did receive $1400, which I did mention while filling the form on Turbotax.

That was even in box 30 "Recovery rebate credit. See instructions"

Should I not include it if I received it?

I recall being asked if I did receive the stimulus and I think I selected yes and mentioned the amount.

CatinaT1
Expert Alumni

Previous year taxes

You only added it to your return if you had not received it. That is why the IRS reduced your refund by that amount.

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vb2100
Returning Member

Previous year taxes

So, COVID stimulus is not actually a stimulus, but giving the money in advance

correct?

Previous year taxes

@vb2100   You must have answered a question wrong or entered the amount wrong.  1040 line 30 for the Recovery Rebate Credit was only if you did not already get the $1,400.

 

1400 was the 3rd Stimulus payment.  It came out starting in March 2021.  If you didn't get it you claim it on your 2021 return line 30 as the Recovery Rebate Credit. But Line 30 is only if you didn't get the full amount or qualify for more. 

DawnC
Expert Alumni

Previous year taxes

You got the advance payment, so you did not need to include it again.    Only those that did not receive the advance payment should have claimed it.  

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vb2100
Returning Member

Previous year taxes

Thank you for your help

vb2100
Returning Member

Previous year taxes

Thank you much

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