If you have e-filed your 2020 Federal tax return and the tax return is accepted by the IRS, the IRS will likely adjust your refund to allow for you already receiving the $2,400 stimulus payment.
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 may also 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.
TurboTax will compare your two payment amounts to the computation within TurboTax. The computations within TurboTax are based upon the information that has been 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.
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