DMarkM1
Expert Alumni

Deductions & credits

Once you entered an amount in one of the stimulus boxes, your return was automatically updated to include the Recovery Rebate Credit based on the information in your return. 

 

Any subsequent entries or changes in the stimulus boxes adjusts the Recovery Rebate Credit and therefore your refund accordingly.

 

You can test this out by entering that you received stimulus amounts above what you are eligible for.  The reduction maximum will be only your credit maximum no matter how much stimulus you add on top of that.  

 

To remind you here are the eligibility amounts:

 

Round one:   $1200 (2400 if filed jointly)  plus $500 per dependent child age 16 or younger

Round two:  $600 (1200 if filed jointly) plus $600 per dependent child age 16 or younger

 

Here is a link with more information on the Recovery Rebate Credit.

 

 

 

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