What do negative signs (-) mean next to IRS Transcript codes 766 and 768?
I'm looking at my transcript and noticed theres a minus sign next to both code 766 and 768. Not sure what this means for my refund. Can anyone help explain what these negative signs mean for my return?
16 comments
Join the conversation
Zainab Omar
Tax expert here. The minus signs (-) next to codes 766 and 768 actually indicate credits being applied to your account. Code 766 is your credit from withholding and 768 is typically your earned income credit. The minus signs are actually good news - they reduce your tax liability. Think of it like math: negative numbers against what you owe means more refund for you!
0 coins
QuantumQuasar
•omg thank you! That makes so much more sense now 🙏
0 coins
Connor Gallagher
•wait so negative is good? that seems backwards lol
0 coins
Zainab Omar
•Yep! IRS logic - everything's backwards 🤣
0 coins
Yara Sayegh
Hey guys, instead of trying to decode these transcript codes manually, I've been using taxr.ai and it's been a game changer. It analyzes your whole transcript and explains everything in plain English. costs $5 but saved me hours of googling. check it out: https://taxr.ai
0 coins
Keisha Johnson
•Is it legit? How does it work exactly?
0 coins
Yara Sayegh
•100% legit! You just upload your transcript and it breaks down every code, tells you exactly where your refund is at, and even predicts when you'll get paid. Way better than guessing
0 coins
Keisha Johnson
•Just tried it - holy cow this is amazing! It literally told me exactly why my refund was delayed and what to expect next. Best $5 I've spent dealing with this mess 💯
0 coins
Paolo Longo
in the same boat. these transcripts might as well be written in ancient egyptian hieroglyphics fr fr
0 coins
CosmicCowboy
•fr tho 💀 irs be making us all amateur detectives
0 coins
Amina Diallo
The IRS website is literally the most confusing thing ever created by humans istg
0 coins
Oliver Schulz
just wait till you see code 971 pop up... then the real fun begins 🤡
0 coins
QuantumQuasar
•oh no whats code 971? should i be worried?
0 coins
Oliver Schulz
•nah ur good with just 766/768. 971 is notice issued - thats when they start playing games wit ur money
0 coins
Natasha Orlova
mine had those same codes last year and i got my refund no problem. ur good fam
0 coins
Sofia Torres
Those negative signs are actually a good thing! They represent credits on your account. Code 766 shows your tax withholdings (like what was taken from your paychecks) and 768 is your earned income credit if you qualify. The minus signs mean these amounts are working IN YOUR FAVOR to either reduce what you owe or increase your refund. So don't stress - negative is positive when it comes to IRS transcript codes! 😊
0 coins