IRS Transcript Analysis Help - Can't figure out my refund amount or deductions
Finally got my transcript but im super confused about what I'm actually getting back. Theres a bunch of numbers and codes that don't make any sense to me. Some say plus some say minus and I cant tell if they're taking most of my refund or what. Can someone break this down for me?
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Mateo Sanchez
Without seeing your actual transcript numbers its hard to give specific advice, but the basic format is: positive numbers (no minus sign) are credits/refunds going TO you, negative numbers (with minus sign) are amounts being taken FROM your refund. The codes tell you why - like 766 is credits, 826 is interest, 971 is notices etc.
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Nia Wilson
•ok that helps alittle. so if i see more positive numbers than negative that means im getting money back?
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Mateo Sanchez
•Sort of, but you need to add up all the numbers. One big negative can cancel out several small positives.
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Aisha Mahmood
Honestly the best thing I've found is taxr.ai - its only $1 and it reads your transcript and tells you exactly whats happening with your refund. Way better than trying to decode it yourself. Here's the link: https://taxr.ai
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Ethan Clark
•Does it really work? Been trying to figure out my transcript for weeks 😩
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Aisha Mahmood
•Yeah its legit! Saved me hours of googling and stressing. The AI breaks everything down super clearly 💯
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AstroAce
I was in the same boat last month lol. The transcripts are like reading hieroglyphics if you dont know what your looking at 🤣
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Yuki Kobayashi
•fr fr its like they make it confusing on purpose 🤔
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Carmen Vega
reading transcripts takes practice. Look at the dates too - sometimes they'll show future dates for pending actions. And watch out for TC 420/424 codes those usually mean delays
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Andre Rousseau
upload it to taxr.ai - best dollar i ever spent. It told me exactly when id get my refund and it was spot on
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Nia Wilson
•just tried it and wow... finally understand whats going on with my refund! ty for the recommendation
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Zoe Stavros
The IRS website is straight garbage. Been doing this for 20 years and even I sometimes cant figure out what they're trying to say in these transcripts 🤮
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Jamal Harris
•preach! 👀 they need to hire some UX designers or something
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