Question

Recovery Rebate Tax Credit

Forum|Forum|5 years ago
February 13, 2021
1 reply
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In 2020 we received the full amount of the first economic relief payment but did not receive the full amount for the second one because our daughter was born and it was based on 2019 taxes (and she was born in 2020). When I am in Turbo Tax, it shows the amounts we should've received (which are not accurate and are higher than what we actually received). I have chosen the option that says we got different than what TurboTax is indicating and put the actual amounts. On the next screen - it says that we got everything we should have gotten based on our 2020 income.

This is incredibly frustrating as the relief payments were based on 2019 and so I believe we should qualify for the $600 credit due to the birth of our second child but there is no way for me to fix it in TurboTax that I can see.

Any help would be greatly appreciated.

Critter-3

Sorry ... but although the ADVANCES of the 2020 stimulus payments were based off the information on the 2018 or 2019 returns the 2020 credit is reconciled on the 2020 return using the 2020 income. So if you do not qualify based off the 2020 income then you do not get any more credit.