topic Re: Amended Return + Stimulus in After you file

Amended Return + Stimulus

atett — Sun, 28 Mar 2021 23:34:22 GMT

Submitted my tax refund in February and received the first and second stimulus payments in my refund. I received an amended 1099 form and need to amend my return. What do I respond to Turbotax asking if I received the stimulus? Yes? It doesn't provide an option to say the filer received it with the original refund. Now when I go to amend my return it says I owe $1800 in my federal return from receiving the stimulus payment (even though I got it in my refund, NOT in 2020). Help?

Re: Amended Return + Stimulus

LenaH — Mon, 29 Mar 2021 00:21:20 GMT

Since you received the stimulus payments with the Recovery Rebate credit on your original return, then you would enter yes. The first two stimulus payments were an advance of the Recovery Rebate Credit. Answering yes would not trigger an $1,800 tax liability as stimulus payments are not considered taxable income. In addition, stimulus payments/Recovery Rebate Credit generally does not have to be repaid.

Did you enter your amended 1099 prior to this seeing your additional tax liability? The input of your additional income from your amended 1099 could have triggered the tax liability. Please go back to the entry of your 1099 form and double-check all input.

Re: Amended Return + Stimulus

atett — Mon, 29 Mar 2021 00:30:04 GMT

Thanks for the response. The amended 1099 was already on my original tax documents and the amended amount is for - quite literally - $1, so up until I was asked if I received the stimulus checks, my federal return listed $0. It wasn't until I responded 'yes' did a grey $1800 appear where my federal return amount was listed.

Re: Amended Return + Stimulus

fanfare — Mon, 29 Mar 2021 00:30:08 GMT

@atett

this "expert" response is completely wrong and will cost you $1,200 if followed.

Re: Amended Return + Stimulus

fanfare — Mon, 29 Mar 2021 00:31:10 GMT

$1,800.

Re: Amended Return + Stimulus

atett — Mon, 29 Mar 2021 00:59:15 GMT

Do you know what I need to do to fix this then?

Re: Amended Return + Stimulus

fanfare — Mon, 29 Mar 2021 01:47:54 GMT

Your revised return 1040 line 30 must show the same amount as your original 1040 line 30,

UNLESS other changes are disqualifying you for some or all of the EIP1 and EIP2.

If your revised AGI goes over $75,000, your Rebate start to phase out.

Re: Amended Return + Stimulus

atett — Mon, 29 Mar 2021 02:07:41 GMT

Can I see my amended 1040 on the Turbotax website without submitting the return yet? My original 1040 line 30 shows the $1,800 from the Recovery Rebate Credit but I don't see where I can check the amended return. I'm not kidding when I say that the amended 1099 I received was literally $1, so the difference between my adjusted gross income and taxable income is $1, so it has to be something wrong with the stimulus. And Turbotax has no option to say that I received the stimulus in my refund rather than when they were initially sent out... Also my AGI for 2020 was nowhere near that $75,000 cutoff so I don't think that would influence it either.