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mdmannpe
New Member

Where do I list my economic impact payments(EIP)? 2020 taxes, with the lack of RMDs, will entitle me to additional EIP funds.

Note: EIP is NOT Earned Income ?
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4 Replies
KrisD15
Expert Alumni

Where do I list my economic impact payments(EIP)? 2020 taxes, with the lack of RMDs, will entitle me to additional EIP funds.

You do not claim stimulus payments on your taxes, only payments EIP1 and EIP 2 that you missed. 

 

If you want to file a 2020 return to show a lower income, you can do that, but you don't report the stimulus payments.

 

If you have NO income for 2020, you can report 1 dollar as other income in order to file. 

 

 

Sign into your account and your return

Type   other reportable income   into the Search Box and click the “Jump to other reportable income” link

-OR-

Click Federal on the left side-bar

Click Wages & Income along the top

Scroll down to the last section Less Common Income and click Show more to open drop-down

Scroll down to last section Miscellaneous Income and click Start

Scroll down to the last section Other reportable income and click Start

Enter the description as “to file for stimulus” and the amount as 1.00

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Where do I list my economic impact payments(EIP)? 2020 taxes, with the lack of RMDs, will entitle me to additional EIP funds.

I need to file my 2020 to qualify  can we get this done I don't  have a lot of time

Where do I list my economic impact payments(EIP)? 2020 taxes, with the lack of RMDs, will entitle me to additional EIP funds.

@Saboo01  The stimulus check is an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”)  If you are eligible it will end up on line 30 of your 2020 Form 1040.

 

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

 

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...

 

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Where do I list my economic impact payments(EIP)? 2020 taxes, with the lack of RMDs, will entitle me to additional EIP funds.

@Saboo01  And...

TurboTax cannot track your 3rd stimulus or tell you when it will arrive.  The IRS is issuing 3rd stimulus checks on its own timetable.

 

You can use the IRS Get My Payment site to see what is expected for your 3rd stimulus check:

 

https://www.irs.gov/coronavirus/get-my-payment

 

https://www.irs.gov/coronavirus/get-my-payment-frequently-asked-questions

 

 

Since you have not yet even filed a 2020 return, you will have to wait for the 3rd EIP and get it on your 2021 return next year.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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