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February 18, 2021
Question

Home and Business: Where do we enter the info for Line 30 This is the information about the COVID stimulus payment. Was told there would be an update coming.

  • February 18, 2021
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    1 reply

    February 18, 2021

    Are you able to access your stimulus check choices by following these steps? 

    • Across the top of the screen, click on Personal.
    • Across the top of the screen, click on Other Tax Situations.
    • Scroll to the bottom of the screen, click on Done with Other.
    • The next screen It looks like you qualified for the stimulus.  Click Yes.
    • At the screen Let’s double-check the amount you received, click Yes or No and click Continue.
    • Proceed on to Federal Review and Smart Check

    If you have not received your second stimulus check, you will receive your payment in the form of a Recovery Rebate Credit on line 30 of your 2020 Federal tax return when you file.

     

    TurboTax will compare your one or two stimulus payment amounts to the computations within TurboTax.  The computations within TurboTax are based upon the information that you have entered into the tax software.  If you are due an additional amount, it will be issued as a Recovery Rebate Credit (RRC) on line 30 of the 2020 1040 tax return.

     

    See also this TurboTax Help.

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    sneal5734Author
    February 18, 2021

    the following screen is not coming up:  

    • The next screen It looks like you qualified for the stimulus.  Click Yes.
    • At the screen Let’s double-check the amount you received, click Yes or No and click Continue.
    • Proceed on to Federal Review and Smart Check.
    •  

    I reloaded the software and still not coming up.  I received both payments from the IRS.  Seems like I need to talk to tech support. I am using 2020 Home and Business because I work and do consulting..W2 and 1099 payments.

    February 18, 2021

    With TurboTax Home & Business CD\Desktop, you can use the Forms mode to access the Recovery Rebate Credit worksheet if you are having trouble getting there with Step-by-Step.

    • Click Forms in the upper right corner
    • Click Recov Rebate Credit in the left column
    • Complete the information
    • Enter in lines 16 and 19 the amounts you received for your Economic Impact Payments (EIP) 1 and 2.
    • Line 21 will show the amount of payment—if any—to be added to Form 1040 line 30
    • When you are done, click Step-by-Step in the upper right to get back to the interview mode
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