During my Stimulas Payments Review with Turbotax, I was asked if I received 2 $1200 dollar payments. I said Yes to both questions because I received $2400 in 2020. Turbotax put $1200 on Line 30 of my 2020 filing. Why did it do that?
Don't amend for that. We don't know how the IRS will work it out yet. They should know you got the second one and take it off your return line 30. They won't open filing until Feb 12 so we all have to wait and see how they handle it. Keep us posted if they reduce your refund for it.
There are 2 Stimulus payments. The first round was 1200 each for 2400. The second round is 600 each for 1,200. Sounds like you didn't get the second payment yet.
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.
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."
I received $2400 in 2020.
Turbotax asked me if I received 2 $1200 payments in 2020.
I said yes to both questions.
I also received $1200 on January 4th of 2021.
I'm expecting to report the receipt of that $1200 when I do my 2021 taxes.
Turbotax still put $1200 on Line 30, and added it to my refund for 2020.
Now I'm getting $1200 more on my refund, and that's incorrect.
So, now I'm expecting the IRS to REJECT my e-file, and force to re-file. Which is going to delay my refund for months.
The Turbotax form should have asked me if I received $2400 in 2020 because I file a joint return (with my wife).
Instead, it asked me about 2 $1200 payments, which I received as 1 payment in 2020.
While I said I received two payments in 2020 (which totals $2400), I missed the Line 30 addition of $1200 to my 2020 refund.
So, that's what I'm dealing with.
Turbotax knew that I was filing a joint return. The stimulas review didn't have that information apparently. That's a Turbotax problem, don't you think?
You need to add the 1200 you already got in 2021 now. Go back and add it.
The year you got it doesn't matter. If you don't report it Turbo Tax will give it to you again, which would be wrong and double.
I hear what you're saying.
When I amend my e-file (assuming the IRS rejects my original 2020 e-file), I'm wondering how I should input the information that I have already received $3600 in 2020-2021 from the stimulas program?
Should I enter ($1200.00) in Box 30?
Or - (minus) $1200.00 in Box 30?
Since entering that information is based on a Yes or No answer to Turbotax's questions, how and when can I enter the correct dollar amount to Line 30?
Since you said that I can keep the extra $1200 Turbotax told the IRS to send me, when I do my 2021 taxes, what would you suggest I do to return the government's money ($1200? $2400?) to them?
Thanks for your input, I really appreciate it.
Don't amend for that. We don't know how the IRS will work it out yet. They should know you got the second one and take it off your return line 30. They won't open filing until Feb 12 so we all have to wait and see how they handle it. Keep us posted if they reduce your refund for it.
I just called IRS and they said that line 30 will be deducted from my refund. Even though I marked that I received both stimulus. Turbotax is telling me I have to amend my taxes and the form to amend won't be available until march 25. I am so angry. Will not be using them again after 7 years of using turbo tax.
Stimulus payments were based on 2019 income tax returns as an advance on 2020 tax credits. Your situation may have changed in 2020, so that what you received was incorrect (either too much or too little). Is that the case?
I also had the same problem, when they ask me did I receive the first and second stimulus check, I said yes and now on line 30 is written 1200$, I can't understand why, and I don't want to go into trouble for TurboTax mistake
There will not be any IRS trouble due to a mistake with stimulus payments on your 2020 tax return. The IRS will make any necessary corrections in that topic and notify you of the changes. See question G2 here.
Due to the timing of the stimulus payments and tax filing season this is a very common experience.
did the same thing to me. i have been so stressed out. thinking they wont send 3rd stimulus if reporting i didn't get the others. i know i answered correctly. i think turbo tax wants us to pay to fix it, thats what they told me on the phone. you have the free edition we can only fix it if you pay $40. i have been pissed. They made us look like liars to the irs. real **bleep**ty turbo tax
i was thinking i was the only one this happened to. But it is delaying refund and i am flat broke. no stim 3 yet because direct deposit is on that tax refund and its not going thru
Me neither, i hope they find out - i will call and tell them. i have the time to sit on the phone. Also tell them it wasn't just me but a few others that used tt. i am pretty sure i am done with this b.s.
I message TurboTax and they told me that they can't make any adjustment, can you let me know what they will tell you? I didn't receive my 3rd stimulus yet
no, its the case is we received the checks, it looks like we are trying to claim them as we did not receive them. like we lied to get more stimulus$. when i talked to someone last week he said no dont call the irs. What kind of advice is that????? No wonder no refund date on WMR. No direct deposit for me now. It could take months...
I need to pay 90$ I can't understand why -.-, and I can't fix it
when i get through i will definetly post the conversation. Give me a couple of days you have to sit on hold for an hour or more. I am hoping it has nothing to do with 3rd stimulus check. i have a date mine was mailed a couple of days ago. but ya, i will repost. be patient. They may know turbo tax had a glitch. I am going to make sure i tell them- irs that is
I did read about refund delays and turbo tax- check line 30. I beleive the irs knows it was turbo tax, also somebody said you don't have to file an amendment unless irs sends a letter. usually they fix it and send it back adjusted. Hope so, i will get ahold of them. They will know it wasn't just me. probably alot of people have this problem. glad you posted, turbo wants us to pay them to fix it. theres the scam.
Per the IRS, if an error was made on your tax return in regards to the Recovery Rebate Credit, do not file an amended tax return. If a mistake was made, the IRS will calculate the correct amount of the Recovery Rebate Credit, make the correction to your tax return and continue processing your return. You can confirm this at the IRS page - 2020 Recovery Rebate Credit — Topic G: Correcting issues after the 2020 tax return is filed.
As stated above by DMarkM1, this will not cause problems with the IRS as it is a very common occurrence due to the timing of payments (for example: some individuals filed their returns before they got their second stimulus payment) . This type of error on your return will not prevent you from receiving the third economic stimulus payment.
Those eligible will automatically receive an Economic Impact Payment of up to $1,400 for individuals or $2,800 for married couples, plus $1,400 for each dependent. Unlike EIP1 and EIP2, families will get a payment for all their dependents claimed on a tax return, not just their qualifying children under 17. Normally, a taxpayer will qualify for the full amount if they have an adjusted gross income of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household and up to $150,000 for married couples filing joint returns and surviving spouses. Payment amounts are reduced for filers with incomes above those levels.
Generally, if you are a U.S. citizen or U.S. resident alien, you are eligible for the full amount of the third Economic Impact Payment if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a valid Social Security number (see exception when married filing jointly) and your adjusted gross income (AGI) on their tax return does not exceed:
Payments will be phased out – or reduced -- above those AGI amounts. This means taxpayers will not receive a third payment if their AGI exceeds:
Most eligible people will get the third Economic Impact Payment automatically and won't need to take additional action. The IRS will use available information to determine eligibility and issue the third payment to eligible people who:
The IRS will be issuing the third round of payments throughout 2021. If you didn't receive one yet, it doesn't mean you won't. Keep in mind that that the third Economic Impact Payment is based on your 2020 tax return or if your 2020 tax return is not processed when determining your eligibility, your 2019 tax return or information you entered on the Non-Filers tool on IRS.gov last year. If you did not file a 2020 or 2019 return but were an eligible federal benefit recipient, your payment is based on you being an eligible federal benefit recipient.
IRS will also issue additional payments to those who received a third payment based on a 2019 tax return and who are eligible for an additional amount based on their 2020 tax return.
Questions and Answers about the Third Economic Impact Payment — Topic G: Receiving My Payment
i just read a whole different story. that they are taking stim 2 back out of taxes, now i am just curious to see what happens. someone said line 30 could not be 0. And no wonder its taking so long to get taxes back. don't be in a hurry to amend unless they send you a letter. Wow, its kind of crazy... maybe turbo isnt doing it wrong, but if we have to payback someone should be telling us that. Also turbo cards are super easy to use for direct deposit think numbers get screwed up or accounts are closed. something with the turbo visa and h&r block, it was all messed up last time. well i dont think it was really fixed. i am curious to get some more answers but i am not alone. Remember don't amend unless they send you a letter- that i read on irs website.
Dont jump and pay that, i am sure they don't mind filing unnecessary papers for you and taking your money. If you are suppose to get money you will get it. If irs has question for you they will mail you a letter. I am sure we all would have received mail about this if we need to provide more information. Once turbo tax files its out of their hands- irs has it. i am in search of info, i will get it even if i have to find a professional tax person.....
You are not paying tax on them and it is not deducting it from your refund or increasing the tax due. Turbo Tax started out by assuming you didn't get it and giving you credit for the whole amount so your refund was too high to begin with. Then when you entered what you already got the starting refund was reduced or the tax due increased to your real actual refund. Otherwise you would be getting the Stimulus amount again on your tax return.
Look at your return. The Stimulus payments do not show up anywhere as taxable income so you are not being taxed on it. And it's not being subtracted anywhere.
A common adjustment is if you claimed the Recovery rebate credit on 1040 line 30 when you already got the Stimulus payment or got the second one after you filed or reported the wrong amounts or entered the wrong amounts in the 2 boxes. If you entered the total you got for both rounds in the same box it would think you didn't get the other one.
They are not taking the second stimulus payments out of your tax return. When you prepared your tax returns, you were asked how much you received for the first and second stimulus payments. Your input in these fields was used to determine if you were eligible for the Recovery Rebate Credit.
If you met the criteria for the credit, you received it when you prepared your 2020 income tax return. The credit is intended to give those who should have received a stimulus payment but never did a tax credit on their tax returns. Any excess credit is then refunded to you if there is an overpayment on your tax return.
Please see the attached link for more information on who can claim the credit.
Recovery Rebate Credit eligibility
If you indicated you did not receive either of the stimulus payments but you actually did, the IRS is pulling these returns aside to reconcile the credit. They will issue notices directly to you if they determine the returns were not completed correctly. You do not need to amend your return.
Correcting Recovery Rebate Credits on returns already filed