Question

I received a letter from the IRS stating the EIP2 isn't considered taxable income. Do I need to enter my second stimulus amount?

Forum|Forum|5 years ago
March 3, 2021
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TurboTax Self Employed Online

Employee

As soon as your enter your personal information, your dependents, and your income, turbotax adds the full amount of the recovery rebate to your tax return that you qualify for based on your number of dependents and income. You must report in the program how much you already received, which will reduce the amount shown on the "refund meter". Its not taxing the stimulus payment, it's reducing the rebate by the amount of stimulus you already received. If you don't, the IRS will delay your refund while they correct your mistake.