Stimulus 2 Credit

[cgrosse]

I received a IRS letter saying my 2nd Stimulus payment was processed and should be received with 7 days (Feb 24).  I completed my 2020 tax and filed it on Feb 27 without receiving the Stimulus payment or claiming it on the tax return.  I am still following up on the stimulus payment with IRS.  Should I file an amended return for credit if the payment does not show up and when?

Robert Grosse

[JamesG1]

I hope that you receive your second stimulus payment in the timeframe that they indicated.

If you do not receive your second stimulus check, you will receive your payment in the form of a Recovery Rebate Credit on line 30 of your 2020 Federal tax return when you file.

If you have e-filed your 2020 Federal tax return and the tax return is accepted by the IRS, you will have to amend your 2020 Federal tax return and correct the entries and calculations to receive the Recovery Rebate Credit.

Amended tax returns will be available March 25 according to forms availability.

You can access your stimulus check choices by following these steps: 

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Other Tax Situations.
• At the screen Let’s keep going to wrap up.  Click on Let’s keep going.
• At the screen Let’s make sure you got the right stimulus amount, click Continue.
• At the screen Did you get a stimulus payment? you can update your stimulus check entries.

TurboTax will compare your two payment amounts to the computation within TurboTax.  The computations within TurboTax are based upon the information that has been entered into the tax software.  If you are due an additional amount, it will be issued as a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return.

See also this TurboTax Help.