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first, the 2nd stimulus payment is not programmed in yet. it should be there by the time the filing window opens in late January as it affects everyone
did you fill in the stimulus questions at the END of the interview?
so you should see $500 on Line 30 on Form 1040.
depending on your income it is possible you are not due any more stimulus, even for the child, but we have to understand more first. Did you receive the entire $1200 or $2400 from the first payment? if no, how much did you receive?
Also, when you get to the stimulus question that asks how much you received, only respond with the amount of the first stimulus payment for the time being. Again, that is because the 2nd stimulus is not programmed it yet, that could also be the problem
We got $2900 on the first ($1200 for each adult and $500 for oldest son). I did go back and put in $2900 and it worked, thanks!
I will check again to see if the second round has updated before I file.
@VolvoGirl @Critter-3 @xmasbaby0 @DoninGA
please review this thread - as more people get their 2nd stimulus checks and before TT updates the software for the 2nd payment, people could begin posting that they know they are owed more stimulus and the software is not giving it to them! this thread is a perfect example of that! if someone puts both payments into the one existing field (who would know that the software is only set up for the first payment!), it is possible TT inadvertently calculates that they are not due anymore in a number of circumstances
further, after closely reviewing the worksheet, the two payments are going to have to be posted separately, so TT will have to ask for that. Will be interesting how TT force people who may have posted both payments into the current existing one field to go back and break them out once the software is updated.
What a mess!
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.
When they finally get the 1040 reprogrammed with all the changes due to the late tax law changes EVERYONE will need to complete that section again ... most likely this will be required to complete the Federal Review tab to continue to filing.
having worked in big companies for my career I gotta believe TT will be under great pressure (as will the IRS) to get the changes completed before the filing window is ready to open. This affects EVERYONE eligible for stimulus payments.
@Critter-3 @NCperson One of our biggest challenges will be convincing users to WAIT for these changes instead of filing the minute TT opens e-filing......
that is exactly why I think TT and the IRS will be under pressure to get this fixed by Jan 27 - opening the window late has impact on the economy and opening the window without teh changes is going to drive a lot of customer dissatisfaction and amendments. Congress won't be pleased either. The good news is that the form is already developed from the 1st stimulus and there is just some tweaks required. Yes, it all need to be tested/
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