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The issue is that the recovery rebate credit is not being applied to box 15 of form 1040X as a refundable credit (other box checked with RRC listed) when filing through TurboTax. However, it is still listing the updated refund amount on the generated 1040 form when reviewing files to send on amended returns.
I have attached a picture of the 1040X form below. This took a five minute google search and the information comes directly from the IRS released on 03/01/2021.
The IRS posted recommendations on 03/01/2021 on this exact situation. The amended return was only available today within TurboTax. It needs to be updated to include the RRC under other credits which it is not currently doing. @ReneeM7122
EXACTLY! You are absolutely right @Noneyabusiness . TurboTax made us wait for so long, you'd think they would have come ready and prepared.
any updates to this? i'm in the same situation.
Okay so what I’m taking from this is that we can’t amend to get the recovery rebate credit currently on turbotax?
The program DOES add the credit to the amended return, but it seems the entry is going on the incorrect line on the 1040X.
You might wait a few days as this is being repaired.
They fixed it. You can do it now.
Turbox tax got it fixed now. You are able to amend the recovery rebate credit
How? I still do not see it when i try to amend. Under what category did you see the credit?
The Federal Review tab at the top will take you to the Recovery Rebate Credit (RRC) so that you can change the amounts you did or did not receive.
See the instructions below.
In TurboTax Online, to claim the Recovery Rebate credit please do the following:
You may find these links useful, they are the FAQs for each round of stimulus:
@DianeW777 This isn't on the amend return. We aren't claiming the credit on a regular return, we're trying to amend our returns and claim the credit in the amendment.
You're only able to amend if your return has already been accepted and released. If you had to change any mistakes, after the tax breaks wrap up, It will ask about stimulus amounts. Thats where you would change your amounts. Enter 0 if you didnt recieve 1st or 2nd. You are basically re-submitting return. Did mine and has already been accepted.
Okay, I finally found it. I was under the impression that the process was over once you gave a reason for amending, so I hadn't gone further. If you're having this problem, make sure you change yourself from can to can not be claimed as a dependent, click continue, give a reason for amending, click done, and you'll be able to claim the credit.
I was thinking this too. The instructions only help if you haven't amended; but I found it. Just proceed with continue after making sure you corrected all your info (example: Correcting if you could be claimed as a dependent) when you keep clicking continue it will prompt the question if you received the stimulus or not, and you can go from there. Not sure why its prompted at the end like that but I hope this helps.
Is it though? When I went through the correction process my 1040x still doesn't show the correct amount. I see that line 30 on my 1040 is updated, though.
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