Question

3rd Stimulus, $2800 received last March

Forum|Forum|4 years ago
February 8, 2022
1 reply
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Last year my wife and I got a 3rd Stimulus check. We have no kids mind you. Any way, at the end of figuring up my Federal taxes on TT Deluxe, the question is asked if we got the check. We said yes, and then TT added $2800 we have to pay in Federal taxes. I looked online and read that this is non-reported and you don't have to pay it back. So what is going on??? I have not received letter 6475 from the IRS yet, but what can that change? Did anyone else have $2800 (or $1400) suddenly added to what they owe?

DoninGA

Employee

The program gave you the Refund Rebate Credit until you entered the stimulus payments received. So the Refund Rebate Credit is no longer included in your tax return.

T

tsmurphy79Author

I still don't understand. So the money from the 3rd Stimulus was just a loan that we all have to pay back? What am I missing here about paying all of the $2800 in taxes due?

DoninGA

Employee

@tsmurphy79 wrote:

I still don't understand. So the money from the 3rd Stimulus was just a loan that we all have to pay back? What am I missing here about paying all of the $2800 in taxes due?

No it was not a loan.

The TurboTax program does not know you received the 3rd stimulus payment so it gave you the Recovery Rebate Credit of $2,800 and included that on your Form 1040 Line 30. When you were asked if you received the 3rd stimulus payment and you indicate Yes the amount received was $2,800, the program removed the Recovery Rebate Credit from your tax return. You cannot get the same payment twice.