2021 stimulus check (3rd payment)

[cas61]

I did not receive the 3rd stimulus payment in 2021 based on an AGI over $80k that included money that I moved from a Traditional IRA to Roth. Without the conversion/rollover (i.e., increased taxable income) I would have been below the $80k cutoff.

Shouldn't I have been eligible for the stimulus payment? They are basically penalizing me for being taxed on money that was already mine. I have entered all my info in TurboTax for 2021 all the way through the Review but it has not asked me anything about the payment. I thought it would catch up to me this year.

[VolvoGirl · Accepted solution]

It is really based on your 2021 return this year.   They just used 2020 to send the checks out fast.   Is your 2021 AGI too high again?  

To get to the stimulus questions in TurboTax at any time, you can search for stimulus or recovery rebate credit then hit ENTER and there should be a Jump to link

If you are trying to trigger it,

Click on Other Tax Situations at top

Click on Let's get started

Answer some questions then Continue

Then click on Let's keep going

Next screen is for the Third Stimulus, if you qualify

If you did not get prompted to enter your stimulus information, that means you either:

1. Filed as a dependent being claimed on another tax return, or 
2. have an AGI too high to claim the recovery rebate

[cas61]

Thanks for the quick reply.

Unless I’m misunderstanding where the AGI comes from, it is too high because of my taxable income. My situation for 2021 is the same as 2020. In both years, I moved money from my T-IRA to a Roth and I was taxed on it. That taxable “income” made my AGI too high to get a stimulus check even though I haven’t physically received any of my own retirement funds. Without that I would have been under $80k in both years.

I had no earned income either year — only 1099R, INT, DIV. Do the rules of the stimulus disqualify me simply because I had to pay taxes on money I had already earned, just moved into a different retirement account? That’s not fair. 

[AmyC]

Yes. You made the choice to move the money from a pre-tax account to an after tax account which increased your income and disqualifies you from receiving the stimulus. Had you chosen not to move the money, you would have the stimulus it sounds like.

[Traebond007]

I need the AGI Number

[Traebond007]

I need 2021 AGI Number

[xmasbaby0]

@Traebond007 

Where do I find my AGI?

https://ttlc.intuit.com/community/agi/help/how-do-i-find-last-year-s-agi/01/25947

https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-access-my-prior-year-return/00/270...

Your 2021 tax return shows your 2021 Adjusted Gross Income  (AGI)  If you filed a joint return then the AGI is the same for each of you.

Form 1040        line 11

If you are using the same TT account that you used last year, you should also be able to find this number in your Tax Home for 2021

If entering the amount from your 2021tax return does not work, then try entering “0” instead.  If that does not work and you still cannot e-file, then print, sign, and mail your tax return.

You can get a free transcript of your past return from the IRS:  

https://www.irs.gov/individuals/get-transcript

Note: If you filed late or amended your return, your correct 2021 AGI may not be in the system. 

https://ttlc.intuit.com/questions/1944348-how-do-i-print-and-mail-my-return-in-turbotax-online

Note:  If you mail your federal return, you will also need to mail your state return.  You will not be able to e-file your state return.

https://ttlc.intuit.com/questions/3415597-what-if-i-entered-the-correct-agi-and-i-m-still-getting-an...

[BrittanyS]

Your AGI can be found on your 2021 tax return, line 11, on your 1040.  As xmasbaby0 stated, if you do no have a copy of your return you can obtain a copy of the tax return transcript from the IRS.  To get a transcript, see the link below:

IRS Transcript

You will need to create an ID.me account in order to access the transcript.

@Traebond007