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After you file
We cannot see your tax return and can only guess what is happening in your 2020 Federal 1040 tax return.
The refund/balance due amounts in the upper left hand corner only reflects the current status of your tax return.
If you are filing married filing jointly, your standard deduction of $24,800 is greater than your income of $15,456.
You would owe no tax but you receive no refund because you had no Federal taxes withheld.
- It is possible that your dependent son could generate one or more credits. Make sure that you answer the questions under Child and Other Dependent Tax Credit, and
- Earned Income Credit (EIC).
These can be found be clicking on Federal down the left side of the screen, then Deductions & Credits across the top of the screen.
If you have not received either of the stimulus checks, you will receive your payment in the form of a Rebate Recovery Credit on line 30 of your 2020 Federal tax return when you file.
TurboTax will compare your one or two stimulus payment amounts to the computations within TurboTax. The computations within TurboTax are based upon the information that you have entered into the tax software. If you are due an additional amount, it will be issued as a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return.
In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.
You can access your stimulus check choices by following these steps:
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Other Tax Situations.
- At the screen Let’s keep going to wrap up. Click on Let’s keep going.
- At the screen Let’s make sure you got the right stimulus amount, click Continue.
- At the screen Did you get a stimulus payment? you can update your stimulus check entries.
See also this TurboTax Help.
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