Stimlus

[dldowell]

I retired June 30, 2020. I have not received any stimulus check. I have electronically filed my income tax via TurboTax for the past 20 years so the IRS should know how to reach me. When I called the IRS about the stimulus check(s) they said I needed to file an amended 2020 tax return to receive the stimulus. I don't see how to do this in TurboTax.  Will TurboTax do the amendment or do I need to use a manual form from the IRS?

[xmasbaby0]

If you did not receive the 1st and/or 2nd stimulus check then you could have used the recovery rebate credit on your 2020 return to get those payments.   If you filed without using that credit then you can amend your 2020 return AFTER it has been fully processed --  and if you meet the eligibility requirements to receive the credit.  There is no where to enter anything about the 3rd stimulus on a 2020 return.   The IRS will issue that later on its own timeline.

Eligibility for the recovery rebate credit

A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:

• $150,000  if married and filing a joint return
• $112,500 if filing as  head of household or
• $75,000  for eligible individuals using any other filing status
  Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above.

You are not eligible for a payment if any of the following apply to you:

• You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
• You do not have a Social Security number that is valid for employment.
• You are a nonresident alien.
  The following are also not eligible: a deceased individual or an estate or trust.

Select your tax year for amending instructions:

• 2020
• 2019
• 2018
• 2017

     What does it mean to "amend" a return?

·         Do I Need to Amend my Tax Return?

The stimulus check is an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”)  If you are eligible it will end up on line 30 of your 2020 Form 1040.

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

[Critter-3 · Accepted solution]

When you file the 2020 return if you did not get the first 2 stimulus payments then that should have been indicated in the interview and the amount you are eligible for based off the 2020 income would be on the form 1040 line 30.   By filing the 2020 return the third stimulus you are eligible for  should be released automatically when the 2020 return is processed.   Before you try amending anything take a look at the 1040 line 30 and the stimulus worksheet to see if you already got the credit and if not were you eligible for it at all.  

[dldowell]

Critter-3, Thanks. It was there. I didn't even notice it.