We received our second stimulus payment in January 2021. We did not list it on our 2020 tax returns. Should we?

[kpoakley]

Should we list our second stimulus payment that we received in 2021 on our 2020 tax returns?

[xmasbaby0]

YES

Congress passed the 2nd stimulus bill at the end of 2020.   The 2nd stimulus checks started going out at the very end of December 2020 and continued into early January 2021.  When you fill out the recovery rebate credit it is important for you to enter the entire total of the amount you have received for yourself, your spouse, and your dependent children so far.   Entering the wrong amount might delay your 2020 refund.

[ErnieS0]

Yes. You should list your stimulus payments on your 2020 tax return. Otherwise your return will be incorrect. Any missing stimulus amounts were added to your tax return as a Recovery Rebate Credit.

If you’re already filed your return in TurboTax, you have until Saturday, February 6 to get your return back and fix Recovery Rebate Credit amount.

If you want to review and update your 2020 return, please enter your information here by February 6, to have your 2020 tax return sent back to you. 

You will then receive an email from TurboTax on February 8, letting you know that your return is available and providing you with detailed instructions on how to review, update and re-file your tax return.

To change your stimulus payment amounts in TurboTax:

• Click on Federal in the left-hand column
• Click Federal Review on the top of the screen
• On the next page titled Let's make sure you got the right stimulus amount, click on Continue
• Change the amount of payments you received, if you put in the wrong numbers. Click Continue.