topic Re: Misplaced and therefore uncashed check in Get your taxes done using TurboTax

Misplaced and therefore uncashed check

MMIT — Wed, 26 Jan 2022 19:47:21 GMT

I got at least one of the checks sent to me as support during this COVID pandemic, but misplaced it (them) and therefore never cashed it (them). Can I claim any of those amounts somewhere in my 2021 tax return? In what line of my 1040?

Because I couldn't find them, I am uncertain about the amount of each check. How much can I claim in my tax return, if at all. Because of various reasons (including HEALTH) I have had to move more than once to different family memeber´s homes, to take care of my health and theirs too. This is why the check(s) got misplaced. But I do know that at least I received one of them. My health didn't allow for me to be more careful about keeping important things in a safe place. Perhaps I can claim those amounts somewhere in my 2021 tax return?

Re: Misplaced and therefore uncashed check

KrisD15 — Wed, 26 Jan 2022 20:26:38 GMT

First and foremost you should determine what the IRS believes you have received as Economic Impact Payments.

You can do this in one of two ways.

Go to "View Your Account Information". (link below) This is an IRS website where you can set-up an account and find out everything regarding the economic payments issued to you.
For the third economic payment, you should receive (or have already received) "Letter 6475". This letter is from the IRS and reports to you what they believe you have already received as the third Economic Payment.

IF you get Letter 6475, and the amount they report is the amount you received, you can enter the information from that letter into the TurboTax program for a 2021 Tax Year Return. (the one we are all working on now). TurboTax will figure out if you received the full amount, and if not, add it as a refund (or lower your tax due)

For the First and Second Economic payments, you can again use the IRS website "View Your Account Information". If it looks like you were not issued the correct amounts or the first and/or second payments, you need to file a 2020 tax return (or an amended 2020 tax return if you already filed for 2020) to claim the payment amounts you did not get relating to the first two payments.

Click here to go to IRS View Your Account Information

If it looks like the IRS issued payments you never got, or maybe you lost, that payment, you can request a replacement.

Below is a link to the IRS information for that. The option you choose will depend on which payment you are looking for.

CLICK HERE for IRS LINK for tracing lost payments

Again, FIRST find out what the IRS has in their records for what they issued to you.

(Use the first link)

If the IRS reports that you are still due the payments (perhaps it was returned by the Post Office) file your tax returns to get the amount as a tax return refund.

For Tax Year 2021, if the payment is missing for the THIRD economic payment, that credit is claimed on the 2021 Form 1040 Line 30.

For Tax Year 2020, if the payment is missing for the FIRST and/or SECOND economic payment, that credit is claimed on the 2020 Form 1040 line 30.

If the IRS reports the payments were made, but you think the checks might have gotten misplaced, request a payment trace and replacement.

Use the second link.

Re: Misplaced and therefore uncashed check

Opus 17 — Wed, 26 Jan 2022 20:29:41 GMT

No, you have to report the payments the IRS thinks they sent you. If not, your refund will be delayed while the IRS corrects your return and reduces your refund.

You have to start a Trace on any missing payments. See the instructions here,

https://www.taxpayeradvocate.irs.gov/news/tas-tax-tip-did-you-have-an-advance-payment-of-the-child-tax-credit-issued-to-you-but-did-not-receive-it/

Note that those instructions say to write "AdvCTCPMT" to trace a missing advance child tax credit payment. If you are missing the third stimulus check, you would write "EIP 3" on top of the form instead.