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Congress has not included any provisions in the CARES Act to clawback (reclaim) any stimulus payments that were sent in error. The stimulus is actually an advance on a credit on the 2020 return, but there are no plans to make people pay pack the stimulus payments.
My husband died February 27, 2020. Both he and I were receiving SSA monthly payments for several years, and we both received Form SSA-1099 benefit statements for tax filing purposes. In addition, I received another Form SSA-1099 for a benefit paid in 2020 showing $1,254.60. Was this related to the CARES distributions? I received a distribution for us since our tax filing was joint for 2019. Do I have to report this income and, if so, how do I report it in Turbo Tax? Thanks.
Stimulus payments will not be reported on any income statements as they are not income. Your stimulus payments are not on any SSA-1099s. If you normally file a tax return and report 1099-SSA information, you will do the same for tax year 2020. Any 1099-SSA statement information will need to be input.
However, based on your total income for 2020 some or none of you social security benefits may be taxable. TurboTax will calculate this for you as you enter the information.
As for reporting stimulus payments received, if you don't remember the amount, you should check your bank accounts where your social security payments are normally deposited. Look for payments from the IRS not the Social Security Administration. Those will be the stimulus payments. The stimulus amounts to look for are:
Round one: $1200 each
Round two: $600 each
If you file a tax return for tax year 2020, you will arrive at a question about stimulus payments received. There is where you enter the amounts and nowhere else on your tax return.
Here is a link with more information on the Recovery Rebate Credit.
You do have to enter the Stimulus amounts you received. Just to see if you qualify for any more. But if you got too much you don't have to pay it back. For deceased individuals see the second question under Eligibility. If they died in 2020 they still get it.
https://www.irs.gov/coronavirus/second-eip-faqs
When you go through the federal review tab it will ask how much you got if any. Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus." If you didn't get one or both enter a 0 and not leave it blank or it won't calculate it.
After you have entered your tax information and are ready for the Federal Review, it will be the first question.
When you enter both his and your SSA-1099 then add the 3rd one together with the fist one for that spouse and enter the total.
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