Cares Act Stimulus Check

[maplewest71]

The income test to qualify for a Cares Act Stimulus Check is income as reported on your 2019 Federal Return, if filed, otherwise your 2018 Federal Return.  I have already filed my 2019 Federal Return and do not qualify. However had I not already filed, and 2018 Federal Return income was used, I would qualify for a full stimulus check.  Is there any way to "recall" my Federal return or otherwise have my 2018 Return be used? or do i simply need to accept I made a poor choice by filing early?

[bluedeb · Accepted solution]

Sorry, the IRS is only going by the 2019 return (they only will use the 2018 return when there is no 2019 return).  Once your return has been filed & accepted, you cannot get it back or make changes.

[GLENNB]

We received funds in March/April and December 2020.  Is that reportable income?

[CatinaT1]

It is reportable for the purpose of reconciling that you received the correct amount.  It is not considered income and it not taxed.

If you did not receive your first and/or second stimulus payment or if the amount received is not correct, you can claim it on your 2020 tax return as the Recovery Rebate Credit.

In TurboTax Online, to claim the Recovery Rebate credit please do the following:

1. Sign into your account and continue from where you left off
2. Click on Federal in the left-hand column, then on Federal Review on the top of the screen
3. On the next page titled Let's make sure you got the right stimulus amount, click on Continue
4. Follow the interview
5. TurboTax will determine whether you are entitled to any additional stimulus
6. Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.