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April 10, 2021
Question

TurboTax did not allow Recovery Rebate Credit

  • April 10, 2021
  • 1 reply
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My 2019 AGI is <$75,000 and 2020 AGI >$75,000. Thus I am eligible for first stimulus check ($1,200) but I didn't receive it. However, TurboTax does not seem to realize that I am eligible for the first credit and does not ask me questions such as "did you receive your first economic impact payment". Why doesn't TurboxTax allow me to claim Recovery Rebate Credit (for first stimulus check)?

1 reply

Employee
April 10, 2021

If you did not receive the first or second stimulus check you can get it by using the recovery rebate credit on your 2020 return.    Your 2020 income and eligibility control whether you get it......the IRS does not go back to 2019 to give it to you.   If your 2020 income is too high then you could get a phased out amount or no credit at all, depending on how much your 2020 income was.

 

The criteria for the 1st and 2nd amounts per the IRS:

 

 

A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:

  • $150,000  if married and filing a joint return
  • $112,500 if filing as  head of household or
  • $75,000  for eligible individuals using any other filing status
    Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above.

You are not eligible for a payment if any of the following apply to you:

  • You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
  • You do not have a Social Security number that is valid for employment.
  • You are a nonresident alien.
    The following are also not eligible: a deceased individual or an estate or trust.

 

 

The stimulus check is an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”)  If you are eligible it will end up on line 30 of your 2020 Form 1040.

 

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

 

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-2020-tax-return

 

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**