nekooza
Returning Member

Recovery rebate credit

I filled my 2020 tax by turbo tax but I don't know I selected Recovery rebate credit,because second stimulus check didn't receive to me.How can I know I claimed and selected that?

DanaB27
Expert Alumni

Self employed

Please check line 30 of Form 1040 to see the Recovery Rebate Credit. To get the correct amount you need to enter both stimulus payments (or $0 if you didn't receive a payment).

 

 

If you have already filed your return you have the option to "recall" your filed tax return to correct your stimulus entries. If you want to review and update your 2020 return, please enter your information here by February 6, to have your 2020 tax return sent back to you.  You will then receive an email from TurboTax on February 8, letting you know that your return is available and providing you with detailed instructions on how to review, update and re-file your tax return.

 

 

If you haven't filed yet then follow these steps to correct your stimulus payments entered:

  1. Log into TurboTax.
  2. After entering all your information click "Federal Review" at the top of your screen. 
  3. On the screen "Let's make sure you got the right stimulus amount" click "Continue".
  4. You will be asked about the amounts of first round and second round stimulus payments you received.  If you did not receive a payment enter "0".
  5. TurboTax will then calculate the amount of stimulus payment remaining that you are still entitled to get. 
  6. Any stimulus amount remaining due to you will show as a credit on line 30 of the 1040.

 

For additional information please see Stimulus FAQ at the end of the TurboTax article.

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nekooza
Returning Member

Self employed

Thank you very much 

Self employed

Hello @DanaB27 

I just discovered  on IRS.gov that I'm eligible to claim the Recovery Rebate Credit. Unfortunately I filed my taxes with Turbo Tax  two days ago, and I don't see a way to make any changes to Line 30 of 1040 form. There's no question in the interview about the stimulus payment or the recovery rebate credit either.

What do I need to do in this case?

Thanks.

 

Self employed

If you've already filed your return, it's not possible to retrieve it, unfortunately.

 

If you filed your 2020 tax return with TurboTax, it can't be stopped and pulled back.  It's as if the return were dropped into a mailbox and already on the way to the Post Office.   

 

The IRS will begin processing returns on February 12 on a first-come-first-serve basis.  To make any changes, you'll have to wait until your return is either accepted or rejected before you can make any changes.  It will be very soon, and TurboTax will send you an email confirmation.

  • If rejected, you can make any necessary changes regarding your stimulus.
  • If accepted, you'll need to amend your return

Here is a TurboTax FAQ that explains the process of amending.

Self employed

Thanks for the info @ReneeM7122 !

I wonder why the question about the Recovery Credit was not included in the interview to begin with?

I don't think I'll be using TurboTax  next year...Very disappointed!

 

Self employed


@hristoh2000 wrote:

Thanks for the info @ReneeM7122 !

I wonder why the question about the Recovery Credit was not included in the interview to begin with?

I don't think I'll be using TurboTax  next year...Very disappointed!

 


The Recovery Rebate Credit question is included in the TurobTax program.  It is after completing the Other Tax Situations section and in Federal Review.

Depending on the information on your 2020 federal tax return the question will not be presented if -

1.  You are a dependent or indicated you are a dependent on your tax return in the My Info section

2.  Your 2020 AGI is over the limit to phase out the credit based on your filing status

• $150,000 if married filing jointly or qualifying widow(er)
• $112,500 if head of household
• $75,000 if single or married filing separately

Stimulus Payment - Online.JPG

 

Self employed

Hi @DoninGA @ReneeM7122 

Thanks for the information! 

This explanation should've been included in your interview...