Where to find refund amount on IRS transcript - is it the account balance?
Just got my transcript and im super confused about where to find the actual refund amount. There's lots of numbers but I see something called account balance. Is that what I'm supposed to be looking at to know how much im getting back? Don't want to get my hopes up looking at the wrong number.
12 comments
Giovanni Marino
The account balance isn't your refund amount. You want to look for the code 846 'refund issued' - that's your actual refund amount. If you don't see an 846 code yet, look for code 150 'tax return filed' which shows your initial tax liability. Then you'll need to add or subtract subsequent codes like withholding credits (806), additional payments (766), or adjustments to get your potential refund amount.
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Amara Okonkwo
omg thank u! found the 150 code but no 846 yet. guess that means still processing? 😩
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Giovanni Marino
Yep, still processing. Once you see that 846 code pop up, you're golden! 💯
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Fatima Al-Sayed
Hey guys instead of trying to decode these transcripts like their the davinci code, I started using taxr.ai. It costs $1 but it analyzes everything and tells you exactly what your refund will be and when to expect it. Saved me hours of headaches! https://taxr.ai
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Dylan Hughes
For real? Does it actually work? These transcripts are giving me a migraine 🤕
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Fatima Al-Sayed
100% legit! It breaks everything down and even explains all the weird codes. Best dollar I ever spent fr fr
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NightOwl42
I made the same mistake lol. Account balance had me thinking I was getting way less than I actually was
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Sofia Rodriguez
transcripts are literally impossible to read without a degree in rocket science istg
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Dmitry Ivanov
fr fr might as well be written in ancient egyptian 🤣
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Ava Thompson
Been doing my taxes for 20 years and still get confused by these things smh
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Miguel Herrera
Your looking at the wrong thing. The account balance is usually negative and shows what you owe before credits and withholding. Dont get excited about that number!
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Amara Okonkwo
ty for saving me from that heartattack 😅
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