The stimulus questions are asked in the Federal Review section of the TurboTax program.  Any payment you were eligible to receive based on the 2020 Federal tax return but did not receive will be entered on the Federal tax return, Form 1040 Line 30 as a tax credit.  The credit is included in the federal tax refund or it will reduce the amount of federal taxes owed.

I was never eligible for any returns before, so this is new for me.

It is showing that I have $1800 as a credit in turbo tax due to the stimulus, my question is, once I submit the file via Turbo Tax and I must get the $1800, will TurboTax send the money to me, or is there any process that must happen and I am not aware of.

thanks in advacne,

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@hbaytie wrote:

I was never eligible for any returns before, so this is new for me.

It is showing that I have $1800 as a credit in turbo tax due to the stimulus, my question is, once I submit the file via Turbo Tax and I must get the $1800, will TurboTax send the money to me, or is there any process that must happen and I am not aware of.

 

thanks in advacne,

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The Recovery Rebate Credit is based on your 2020 federal tax return.  So if you are eligible on the 2020 return and have not received any stimulus payments you will get the credit on  the federal tax return, Form 1040 on Line 30.  This credit is included in the federal tax refund.  The IRS issues the federal tax refund, Not TurboTax.

If you are outside of the US and do not have a US bank account for direct deposit, the IRS will send you the refund check in the mail to the address on the federal tax return.

thanks for the valuable info.

I confused about a couple of things.

1-  I know TurboTax does not issue returns, but TurboTax gives you the option to deduct the cost of its services from your returns, so it seems that if I get any returns from Tax or Stimulus then it passes through them and they act as a proxy since I am using there system. (Correct me if I am wrong)

2- I don't have a US bank account, can IRS do a direct deposit for an overseas account?