topic Re: First stimulus check in After you file

First stimulus check

Cris314 — Wed, 30 Dec 2020 16:39:17 GMT

I have a question referring to my first stimulus check, i never got it but i filed my 2019 tex return, it was accepted by the irs on may 13 and i got my return and well its December and i still haven't received my stimulus payment from early 2020, what can i do?

Re: First stimulus check

VolvoGirl — Wed, 30 Dec 2020 16:40:15 GMT

The Stimulus Check is really based on 2020 tax return. 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."

Re: First stimulus check

DoninGA — Wed, 30 Dec 2020 16:41:30 GMT

If you are eligible the Recovery Rebate Credit (stimulus payment) will be entered on your 2020 Federal Tax Return, Form 1040, on Line 30.

TurboTax will ask about the stimulus payment received or not received in 2020.

See this IRS website - https://www.irs.gov/newsroom/recovery-rebate-credit

Re: First stimulus check

Cris314 — Wed, 30 Dec 2020 16:52:38 GMT

@VolvoGirl I checked my return and cant seem to find line 30 on my 1040 and i cant seem a way to find if i actually got paid or not

Re: First stimulus check

Cris314 — Wed, 30 Dec 2020 16:54:04 GMT

@DoninGA I cant seem to find line 30 on my return and turbotax never seemed to ask if i received it or not yet

Re: First stimulus check

VolvoGirl — Wed, 30 Dec 2020 16:54:36 GMT

Line 30 is on your next year's 2020 tax return. You can't finish or file 2020 yet.

Re: First stimulus check

DoninGA — Wed, 30 Dec 2020 16:57:02 GMT

@Cris314 After completing the Other Tax Situations section of the program you will be asked about the stimulus payment received or not received in 2020.

When using the TurboTax online editions you can view your Form 1040 at any time. 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.

Re: First stimulus check

Critter-3 — Wed, 30 Dec 2020 16:57:51 GMT

Just follow the interview ... everyone will see this screen in the Federal Review tab ...

The question about the amount you got in the advance stimulus payment doesn’t happen until the END of the interview. By then the program has already calculated the credit and has included the amount in the refund meter you see at the top of the screen. UNTIL you get to that screen where you can indicate how much you actually got in the ADVANCE payment the program cannot know what the correct amount really is. So once you enter in that amount the program adjusts the credit accordingly depending on how much you already got and the refund meter will change appropriately.

Hot off the press ... straight from the horse's mouth ...

https://www.irs.gov/newsroom/treasury-and-irs-begin-delivering-second-round-of-economic-impact-payments-to-millions-of-americans

Re: First stimulus check

Cris314 — Wed, 30 Dec 2020 17:01:04 GMT

@VolvoGirl Ohhh my bad lol will do when i file again

Re: First stimulus check

Cris314 — Wed, 30 Dec 2020 17:02:12 GMT

@DoninGA So this can help me and them determine if im eligible and receive a payment

Re: First stimulus check

DoninGA — Wed, 30 Dec 2020 17:03:26 GMT

@Cris314 wrote:

@DoninGA So this can help me and them determine if im eligible and receive a payment

Yes.

Re: First stimulus check

Cris314 — Wed, 30 Dec 2020 17:03:27 GMT

@Critter-3 This can help me with a stimulus i never received, correct?

Re: First stimulus check

Cris314 — Wed, 30 Dec 2020 17:19:15 GMT

@DoninGA Can i be able to do this right now or i have to wait to file my next tax return to do this?

Re: First stimulus check

DoninGA — Wed, 30 Dec 2020 17:24:31 GMT

The stimulus payment was an advance credit from your 2020 tax return. If you are eligible you will receive the credit on your 2020 federal tax return that you file in 2021.

The TurboTax software for tax year 2020, either the online editions or the desktop editions, are already set up to determine if you are eligible based on your personal information and the income you report on your 2020 tax return.

Re: First stimulus check

Critter-3 — Wed, 30 Dec 2020 18:15:14 GMT

By the end of the month hopefully the program and the IRS will have updated their systems to allow for both unreceived stimulus payments to be listed on the form 1040 line 30. Patience will be needed again this year as we wait for the late changes congress did to be implemented.