Deductions & credits
Manually enter the amount of stimulus payment you received in TurboTax, on the Did you get a stimulus payment? screen . TurboTax will calculate then add the difference (if any) to your income tax return based on eligibility. See the eligibility requirements below.
Per TurboTax FAQ: If you don’t receive the correct amount of stimulus payment, you claim the Recovery Rebate Credit when you file your 2020 taxes and it will provide the same amount of payment as the stimulus would have. TurboTax will guide you through this to make sure you get every dollar you deserve.
- We suggest that you save your IRS letter-Notice 1444 which is mailed after the IRS provides you with a stimulus payment. You can use that info when you file your 2020 return to make sure you’ve received the amount you deserve. If your stimulus payments weren’t correct, you may receive the funds as a credit which can add to your refund.
Eligibility: If your adjusted gross income (AGI) is below,
- $75,000 for individuals
- $112,500 for heads of household
- $150,000 for married, joint filers
You should receive $600 per individual plus $600 per qualifying child.
For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$112,500/$150,000 thresholds. This means:
- An individual without children will not receive any payment if their AGI exceeds $87,000.
- A couple without children will not receive any payment if their AGI exceeds $174,000.
- A family of four will not receive any payment if their AGI exceeds $198,000.
You can find your 2019 AGI on line 8b of your Form 1040.
[Edited 1-29-2021|11:40 am PST added screenshot where to manually enter stimulus payments]
