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userjosephdobrott
Returning Member

How do I correct the amount of stimulus payments received?

Need to increase from 1200 to 2400 stimulus payment received.
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3 Replies
HelenC12
Expert Alumni

How do I correct the amount of stimulus payments received?

If you haven't e-filed or mailed your income tax and you need to make any changes to your stimulus credit responses, search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.

 

 

If you've already e-filed your tax return but need to make some changes to the Stimulus amount, we would like to give you the opportunity to review and update the Recovery Rebate Credit portion of your 2020 tax return before the IRS opens on February 12th. 

 

If you want to review and update your 2020 return:

  1. Please enter your information here by February 6, to have your 2020 tax return sent back to you. 
  2. 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 without the Recovery Rebate Credit.

To quickly get to the stimulus section of TurboTax:

  1. Search for stimulus and select the jump-to link at the top of the search results to return back to the section.
  2. Enter your updated info and Continue.

 

Note: Stimulus payments were advances on the Recovery Rebate Credit. Stimulus payments are not taxable income to you so you won't be taxed on the amount you receive. It won’t reduce your refund or increase what you owe when you file your taxes this year. It’s also not considered income, so it won’t affect your eligibility for any federal government assistance or benefits. To review the TurboTax FAQ, click here

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userjosephdobrott
Returning Member

How do I correct the amount of stimulus payments received?

I searched stimulus but "Jump to .." does not appear as an option.

ErnieS0
Expert Alumni

How do I correct the amount of stimulus payments received?

To get back to the stimulus section:

  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. Change the amount of payments you received, if you put in the wrong numbers. Click Continue.

The stimulus payments were advanced payments for 2020. Since the IRS did not have 2020 information when it sent out payments, the Service used 2018 and 2019 tax information with the understanding that any missing payments would be added to your 2020 tax return.

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