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amoiha
New Member

I made a mistake on the stimulus package question. How do I fix it?

 
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6 Replies
LenaH
Employee Tax Expert

I made a mistake on the stimulus package question. How do I fix it?

If you have not yet submitted your return for e-filing, you can follow these steps in TurboTax to reenter information for the recovery rebate form:

  1. With your return open, search for stimulus with the magnifying glass tool on the top of the page.
  2. Select the Jump to Stimulus in the search results to directly go to correct TurboTax page.

It is important to keep in mind that you must enter 0 for the second stimulus payment for the credit to calculate correctly. 

 

If your e-file is still pending, you won't be able to make changes until the IRS either accepts or rejects your return. It is likely that the IRS will reject your return due to incorrect input of your stimulus payments. If they don't, it is possible your refund/amount due will be automatically adjusted based on the stimulus money you received in 2020. 

 

If your return is not rejected, you will have to amend your return. To do so, please follow the directions on the How do I amend my 2020 return?

 

After you click to amend your return, you can follow the above steps to reenter the correct information. 

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I made a mistake on the stimulus package question. How do I fix it?

I did too. Are we suppose to enter the one we were suppose to get in December 2020 but instead got in January 2021?

I made a mistake on the stimulus package question. How do I fix it?

Yes, you enter the stimulus payment that you received in January, 2021 on the 2020 income tax return.  The payment received in January, 2021 is retroactive to 2020.  

@legree76

I made a mistake on the stimulus package question. How do I fix it?

Thank you! 

I made a mistake on the stimulus package question. How do I fix it?

Hi! When doing my taxes on Saturday, when I was asked did I receive the stimulus, I clicked no, because I thought this was only for the $600 that some didn't receive in December, and a window came up and said something like "I have that information.  It calculated something and at the end of my filing, my Recovery Rebate Credit was $3600!!!  It's only me, my husband and our 17 year old daughter.  I think it calculated the $1200 that we DID receive in 2020.  I am so confused.  I dont' want to get in trouble with the IRS. YIKES

DMarkM1
Expert Alumni

I made a mistake on the stimulus package question. How do I fix it?

The Recovery Rebate Credit amount is calculated based on your 2020 tax return.  That credit is then reduced by any stimulus payments you received in rounds one and/or two (even if received in 2021).  

 

Based on your post your credit amount would be:  $2400 round one plus $1200 round two totaling $3600 for you and your spouse filing jointly.  Your dependent is too old for the child payment. 

 

If you selected that you did not receive any payments then your credit of $3600 is correct.

 

If you need to change to state you did receive payments just click on the "Federal Review" tab at the top of the page to re-enter the stimulus interview.  Select "Yes" you received payments.  Then enter the amounts in the appropriate box(es).  

 

Your credit/refund will be adjusted.

 

Here is a link with more information on the Recovery Rebate Credit.

 

 

 

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