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cargid
Level 1

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

In previous turbo tax filings, the Xs indicated that the direct deposit information on file was to be used.
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AmyC
Expert Alumni

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

That option is for people that are not filing a 2019 return. You said you filed in  2018. If you are filing a 2019 return, you should wait for the IRS portal to register bank information.

If you are not filing a return for 2019, you will want to clear and start over to be sure that your bank information goes through.

 

We are still waiting for IRS guidance regarding updating or providing direct deposit information for the stimulus payments. We will have more information once the government finalizes the details. In the meantime, you can visit the following links for the most recent updates:

IRS Coronavirus Tax Relief  

TurboTax Corona Virus Tax Center Updates

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5 Replies
CatinaT1
Expert Alumni

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

Your direct deposit information will be displayed toward the bottom of your return.  If it is all XXX's this means there is no direct deposit information and a check will be mailed.

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cargid
Level 1

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

Maybe I should have explained more in my original question.  This is what I did.  

I was using the new free, Turbo Tax Stimulus Registration product designed to help millions of Americans register to get their stimulus money.

I filled in all of my new direct deposit account information since my 2018 tax return's direct deposit account has been closed.     Before submitting the form I went to the 1040 form print option.  When the 1040 was printed it did not have my new direct deposit account information listed, it instead had all XXXs in the routing and account number fields.   I knew that the IRS used the account information they already have on file if there were XXXs printed in those fields.     It looks like the stimulus registration screen did not work.  What do you think?

AmyC
Expert Alumni

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

That option is for people that are not filing a 2019 return. You said you filed in  2018. If you are filing a 2019 return, you should wait for the IRS portal to register bank information.

If you are not filing a return for 2019, you will want to clear and start over to be sure that your bank information goes through.

 

We are still waiting for IRS guidance regarding updating or providing direct deposit information for the stimulus payments. We will have more information once the government finalizes the details. In the meantime, you can visit the following links for the most recent updates:

IRS Coronavirus Tax Relief  

TurboTax Corona Virus Tax Center Updates

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
bpontius1981
New Member

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

Mine is all xxx to. So does that mean that they have to wrong info. 

 

BillM223
Expert Alumni

Is this correct? I entered new direct deposit information for my stimulus. On the 1040 form generated the direct deposit information was Xs instead of the new info.

When TurboTax gets the banking info from you, it puts it into the data packet that it sent to the IRS as part of your e-filing. This information is also printed on one of your worksheets.

 

However, for security purposes, when the e-filed return is printed by you as a copy (good idea), the banking information is covered by Xs in order to protect your private information.

 

You can see that this works because if the IRS took the information from the printed page, they would never be able to send anyone any refunds at all by direct deposit, but obviously they do.

 

Just note that what gets e-filed is not these forms, but the data on these forms, so the banking information is there and sent to the IRS.

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