Question

Where do I find the section for the Recovery Rebate Credit in Turbotax. I wasn't given enough money either time. Only for me, but not for my son.

Forum|Forum|5 years ago
January 2, 2021
2 replies
0 views

I've looked in the Deductions and Credits section, but don't see anything related to the stimulus checks I received.

TurboTax Free Edition Online

it's at the END of the interview section . Type "stimulus" in the search box.

note that currently TT only will reflect the 1st stimulus and is in the midst of programming for the 2nd stimulus payment

Also, you mention you weren't given enough money either time. Can you explain that so we can help you? The stimulus is really based on your filing status and income on your 2020 tax return; the prior years don't matter.

You will see how much you are owed on Line 30 of Form 1040.

T

taxlady28

You will be asked about the economic stimulus payment when you do your taxes. I don't believe the form or question is there yet.

X

xmasbaby0

Employee

It is in Other Tax Situations. But the Form 1040 -- and then all the software -- is being revised for the new 2nd stimulus, so patience will be needed by all.

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 this year, you can get it when you file your 2020 return in early 2021—if you are eligible. It will end up on line 30 of your 2020 Form 1040.

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

https://www.irs.gov/coronavirus/coronavirus-tax-relief-and-economic-impact-payments-for-individuals-and-families

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

We know that the IRS is already revising the 2020 Form 1040 to include the 2nd stimulus, but that change will entail a lot of re-programing at the IRS and for the tax software programs. It may be at least a month — or longer— before the forms are changed. Do NOT be in a hurry to file your 2020 tax return until more is known. Give some extra time to the IRS and the software programmers so that the software can handle the new 2nd stimulus, so that you can get it all by filing ONE time. It is never a good idea to file too early; filing your 2020 return too soon may result in a lot of extra confusion that can be avoided if you wait and file a little later.

**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.**