not sure information entered was correct

[queenct]

The questions regarding stimulus payments were confusing and I've already filed my taxes.  How can I know review that information, or can I?  Only received 1 stimulus in 2020, but may have answered that 2 were received.

[ThomasM125]

You can use the Amend/Change Your Tax Return option in TurboTax to go back and look at your entries. Also, you will see an option to print out your tax return on your timeline when you log into TurboTax.

You should wait until you receive your refund before you do anything, though, since the IRS may adjust your return if they determine you didn't complete it properly and include amounts in your refund that weren't indicated on your tax return.

[queenct]

Thank you for the reply.  I'm not getting a refund, but I will go back and see if I can see my actual questions.  The tax prep has been finished and tax returns sent out.  I didn't see anywhere on the tax forms to show how I replied to the stimulus questions, but I'll look again.

[VolvoGirl]

The only thing that will show up for the stimulus payments is if there is an amount on 1040 line 30 claiming more.  How much on on your line 30?  

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." Say no to the amounts it shows you. Then 2 boxes will open up for each round. If you didn't get one enter a 0 in the box.

After you have entered your tax information and are ready for the Federal Review, it will be the first question.

If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.

The Recovery rebate credit is on 1040 line 30. It either adds to your refund or reduces a tax due.

[queenct]

Thanks so much for the quick response.  Line 30 on my 1040 shows $2,400.  That was the only stimulus check we received in 2020.  Received $1,200 in Jan 2021 and $2,800 in March of 2021. 

[VolvoGirl]

Yikes,  don't know how you got 2400 on line 30.  Looks like you already got both the first 2 checks for 2400 & 1200, so you should have zero on line 30.  Line 30 should only be if you qualify for more.   How much is  your refund?  The IRS will subtract the 2400 from your refund and it may cause you to have a tax due now.  

[queenct]

No refund.  Paid Fed $400+ and State $200+.

I only received $2,400 in May of 2020.  Then in 2021 January was $1,200 and March was $2,800.  I'm pretty sure I marked that both were received in 2020, then the question changed during review.  I was asked again if check was received from October to April of 2021.  Confused me, but I continued.

[VolvoGirl]

Yikes,  Then don't be surprised you get a bill for 2,400 from the IRS.  You must have entered the first 2,400 in the wrong box so it didn't know you got it for the first round and gave it to you again.  

[queenct]

Even though both Federal and State have been submitted and accepted can I amend them now?  They are due to have money for payment of the taxes come out tomorrow.

[VolvoGirl]

Why do you need to amend?  If it's only for the Stimulus then DO NOT AMEND.  

[queenct]

Then I'm not sure I understand how I could be billed for $2,400.  If I could amend to show that I only got one stimulus check in 2020, they would have no need to.  Correct?

[DawnC]

You do not need to amend at this time.   The IRS will adjust your return for you or they will send you a notice requesting you amend your return.   

You want to make sure that you pay your full tax bill by 05/17.   Use the link below to make an additional payment if you need to.   If you have $2400 on Line 30 and that amount should not be there, you should make an additional payment for that amount to avoid any interest or penalties.   Since you have taken a $2400 recovery rebate credit that you do not qualify for, your tax bill was erroneously reduced by $2400.   Your tax bill is really $2400 more than what they are deducting tomorrow. 

Make a Payment to the IRS

[DawnC]

You can file the amendment through TurboTax and remove the amount on Line 30, but this won't affect the payment you already have scheduled.    You would still need to make the additional payment through TurboTax when you file the amendment or directly through the IRS website.   

If you are filing an amendment, search for stimulus and use the Jump to stimulus link to be taken back to the Recovery Rebate questions.  Based on what you have stated above, your recovery rebate should be ZERO - and the amount you owe should increase by $2400.   

[queenct]

Thanks everyone for such quick response time.  This information is helpful.

Final question just to make sure I understood.  There is no need to amend now, just wait for the IRS to bill me and then correct with them?

[VolvoGirl]

Since you already got the first 2,400 it should not have been added onto your return again on line 30.  Line 30 is if you qualify for MORE like if you had a baby in 2020.  You tried to get credit for it again on your return.