topic Can I change 2020 my tax return to show that I did receive the second $600.00 payment? in After you file

Can I change 2020 my tax return to show that I did receive the second $600.00 payment?

fleetvanriperjr — Fri, 12 Mar 2021 00:40:18 GMT

I reported that I did not receive the 600.00 stimulus payment and I made a mistake and would like to correct it

Re: Can I change 2020 my tax return to show that I did receive the second $600.00 payment?

Cynthiad66 — Fri, 12 Mar 2021 00:54:26 GMT

You do not have to correct it. The IRS has been making the correction in the refund amount. If however, you receive the full amount of expected refund then contact us again and we will tell you what you can do. But, those instructions are not available at this time.

Stimulus payments are based on information from your 2019 or 2018 tax filings. But, the amount you were paid will be reconciled on this year’s tax return based on your 2020 situation.

If you didn't receive the correct amount of stimulus payment, you can claim the Recovery Rebate Credit when you file your 2020 taxes and it will provide the same amount of payment as the stimulus would have. TurboTax will guide you through this to make sure you get every dollar you deserve.

Re: Can I change 2020 my tax return to show that I did receive the second $600.00 payment?

fleetvanriperjr — Fri, 12 Mar 2021 01:04:53 GMT

I understand you to say that my mistaken 2020 tax report that I didn't get the second stimulus payment of $600.00 does not need to be corrected but will automatically be corrected by the IRS and they will not pay the recovery rebate credit.

Re: Can I change 2020 my tax return to show that I did receive the second $600.00 payment?

fleetvanriperjr — Mon, 15 Mar 2021 19:20:14 GMT

Would you confirm that my previous reply shows that I understood your advice? Or explain what I got wrong?

Thanks.

Re: Can I change 2020 my tax return to show that I did receive the second $600.00 payment?

JotikaT2 — Mon, 15 Mar 2021 19:39:18 GMT

You are correct in your understanding.

If you already filed your tax return and it was accepted by the IRS, the IRS will make the adjustment and notify you of the change in your return.

The Recovery Rebate Credit was allowed on your tax return if you were supposed to get a stimulus payment(s) but did not. This could have resulted in an overpayment in your tax return.

If this applied to your return as filed, it was not the Recovery Rebate Credit you were getting a refund for, but the over all overpayment on your return.

Please see the link below for additional information.

Correcting Recovery Rebate Credits on returns already filed