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Get your taxes done using TurboTax
There's a loophole in the law that prevents you from having to pay taxes on the stimulus check money you get. As it turns out, your stimulus check isn't "income" after all, according to the law. Instead, it's simply an advance payment of a tax credit. And tax credits aren't taxable income.
TurboTax does include a Recovery Rebate Credit Worksheet that's use to calculate the amount of the credit that you may be due. If you've already received more than the amount due to you then you don't need to repay it.
Answers are correct to the best of my ability but do not constitute legal or tax advice.
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**If this post is helpful please click on "thumbs up"**
‎January 25, 2021
8:54 AM