topic Is the 2020 stimulus payment taxable? in Get your taxes done using TurboTax

Is the 2020 stimulus payment taxable?

lnsholmes — Tue, 16 Mar 2021 02:22:39 GMT

Re: Is the 2020 stimulus payment taxable?

npierson7 — Tue, 16 Mar 2021 02:32:26 GMT

No, stimulus payments isn't taxable and you don't need to include them in your tax return.

Re: Is the 2020 stimulus payment taxable?

mesquitebean — Tue, 16 Mar 2021 02:42:24 GMT

Are you referring to stimulus payments 1 and 2?

When you near the end of your 2020 return, you will come to the Federal Review. In that section if TurboTax thinks you were eligible, it will ask you questions about the stimulus payments, mainly to be sure you received all the credit you are due, and not for the purpose of taxation. See the FAQ below for more info:

FAQ: How do I claim the Recovery Rebate Credit?

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/how-do-i-claim-the-recovery-rebate-credit/01/1855581

Re: Is the 2020 stimulus payment taxable?

sil58 — Tue, 16 Mar 2021 02:58:07 GMT

If you're referring to the economic stimulus impact payment, no it is not. You should have gotten a letter from the IRS that states that.