Why does my transcript show negative amounts? Is that my refund?

On IRS transcripts, a minus sign actually means a credit to your account (good news - that's money coming to you). When you see a positive number, that's typically a tax liability or amount you owe. So in your case, -$4,322 means that's your refund amount matching what TurboTax calculated. Think of it like balancing a checkbook - negative means money going into your account.

Just wanted to mention that taxr.ai is super helpful for understanding transcripts. It breaks down everything including these confusing minus signs. Saved me hours of googling and only costs a buck. https://taxr.ai

protip: print your transcript and put a + where theres a - and vice versa. Makes way more sense that way tbh

minus = money coming to you, plus = money you owe. irs living in opposite world 🤡

wait till you see all the random codes that make no sense either lmaooo

Your all good fam. That minus sign means payday is coming 🎉