3068481
I am redoing my 2021 return. Should the stimulus payment amount be entered as additional income and for the recovery rebate credit worksheet?
You'll need to sign in or create an account to connect with an expert.
NO ... the stimulus payments are NOT entered as income on an income tax return. You will indicate how much you got of the stimulus payments in advance when asked in the program and it will calculate the RRC automatically and put it on line 30.
EIP3 The 3rd Stimulus payment started going out in March 2021 and is for 1,400 for each person listed on your tax return, no age limit. The IRS used your 2020 (or 2019) return to send the checks out fast. If your 2021 return changes and you qualify for more you can claim the extra as the Recovery Rebate Credit on 1040 line 30. But line 30 is only if you didn't get the full amount or qualify for more. Not the amount you already got. The IRS also sent out letter 6475 to tell you how much they sent you . If you are married then each spouse should get a letter for half.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
johnpickle306
New Member
theresavanhoose
New Member
wertaxpros
New Member
mentaliti
New Member
brandit10000
New Member