When a deposit is returned to the IRS, there will be a reconciliation on your 2020 tax return. For those who did not receive their second stimulus check there is a Recovery Rebate Credit that will part of your tax return which will include it with the rest of your refund. Please use the links below for more information.
- When will I get my second stimulus check? (scroll to this question when you select the hyperlink)
- Why haven't I received my second stimulus check?
- IRS Recovery Rebate Credit
- How can I check on my second stimulus payment?
The Recovery Rebate Credit will cover both the first and second stimulus payments. This will determine the full amount of potential refund you are entitled to based on income and eligible dependents, and will be part of the final combined refund on your return, if applicable
In TurboTax Online, to claim the Recovery Rebate credit please do the following:
- Sign into your account and continue from where you left off
- Click on Federal in the left-hand column, then on 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
- Follow the interview
- TurboTax will determine whether you are entitled to any additional stimulus
- Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.