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I got $1200. in 2020 and 600. in 2021. Why am I getting a $1800. credit on Line 30 of my 1040-SR?

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4 Replies
DanaB27
Expert Alumni

I got $1200. in 2020 and 600. in 2021. Why am I getting a $1800. credit on Line 30 of my 1040-SR?

Please ensure that you have entered both stimulus amounts received into TurboTax:

 

To do this in TurboTax, please follow these steps:

  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.

 

 

 

If you have already filed your return you will need to wait and see if your return gets accepted or rejected. 

 

Please see the links below when Form 1040X is available:

 

 

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I got $1200. in 2020 and 600. in 2021. Why am I getting a $1800. credit on Line 30 of my 1040-SR?

No I did not receive no money at all no 1200 no 600

I got $1200. in 2020 and 600. in 2021. Why am I getting a $1800. credit on Line 30 of my 1040-SR?

Did not receive 1200 or 600 didn't receive nothing

I got $1200. in 2020 and 600. in 2021. Why am I getting a $1800. credit on Line 30 of my 1040-SR?

If you qualify based on your 2020 you will get it on your tax return.

The Stimulus Checks are really based on your 2020 return we are filing in 2021. So any amount you already got will be reconciled on your 2020 return line 30. If you didn't get a Stimulus Check (and qualify) or you qualify for more it will be added to your 2020 return. But the good news is if they paid you too much they won't take it back.

 

There will be a screen with 2 boxes for each round. If you didn't get one enter a 0 in the box.

 

When you go through the federal review tab it will ask how much you got if any. Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus."

 

After you have entered your tax information and are ready for the Federal Review, it will be the first question.

 

If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.

 

The Recovery rebate credit is on 1040 line 30. It either adds to your refund or reduced a tax due.

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