topic Re: Third Stimulus Payment in Get your taxes done using TurboTax

Third Stimulus Payment

cjhayes283 — Mon, 22 Mar 2021 02:59:56 GMT

Turbo Tax is asking for verification of the amounts of the first two stimulus payments. Shouldn't the third payment also be verified?

VolvoGirl — Mon, 22 Mar 2021 03:01:01 GMT

No. The 3rd one is too new. Your 2020 return only reconciles the first two.

NCperson — Mon, 22 Mar 2021 03:01:36 GMT

they will ask next year...

the 1st two stimulus payments were an advance against 2020 tax return

the 3rd stimulus payment is an advance against the 2021 tax return.

cjhayes283 — Mon, 22 Mar 2021 03:15:22 GMT

Thank you. So, for new dependents born in 2020, you have to wait until 2022 to get the third payment?

NCperson — Mon, 22 Mar 2021 11:32:02 GMT

correct - if you don't get the $1400 for the newborn now, it'll shake out when you complete your 2021 tax return next year