For the rebate credit my daughter born in July missed the cut off for the 1st stimulus but should qualify for the 2nd, it is telling me I got every penny, but I didn't.

[USMCVeteranCpl]

Turbo tax is only asking me about the 1st round, but not the 2nd round. Though she qualifies, we won't be getting paid for her. How do I get her credit?

[DoninGA]

If you do not receive the second stimulus payment on or before January 15, 2021 and you are eligible it will be entered on your federal tax return, Form 1040 on Line 30.

The Form 1040 has not been finalized and needs to updated to include the 2nd Economic Impact Payment.

[xmasbaby0]

Children born in 2020 were not included in the 1st stimulus because those checks were based on 2018 or 2019.  But on your 2020 tax return you can claim your child born in 2020 for the stimulus money, as well as the other child-related credits.  You enter your new dependent in My Info.  When you go through the screens in My Info make sure to say your child lived with you the WHOLE year.  When it asks the oddly worded question about whether your child paid for over half their own support say NO.

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-...

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

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. You will need to visit the recovery rebate section AFTER the form and software revisions are complete in order to do this correctly. 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.

[NCperson]

@USMCVeteranCpl currently TT is only programmed for the 1st stimulus, so go back into the interview and only enter what you received from the 1st payment for the time being.  See if the number that appears on Line 30 of Form 1040 makes more sense to you.

once the software is updated for the 2nd stimulus and you enter the 2nd payment you received,  it should all work out. 

please post back your results!

[USMCVeteranCpl]

Thanks everyone, that makes way more sense. I don't want to miss anything, instead of filing early, I will wait until everything gets updated, smoothed over, and programmed. I appreciate it! 

[USMCVeteranCpl]

Thank-you NCperson!