topic Recover rebate credit in Deductions & credits

Recover rebate credit

Dj041891 — Sun, 27 Dec 2020 10:00:50 GMT

Re: Recover rebate credit

xmasbaby0 — Sun, 27 Dec 2020 14:11:39 GMT

What are you asking about? Are you asking about a stimulus check? And what is your question? This is not live chat. We cannot help unless you ask a complete question that we can understand without having to guess what you mean.

Re: Recover rebate credit

Dj041891 — Mon, 28 Dec 2020 03:59:53 GMT

How do I file for or the rest recovery rebate credit,because I must’ve missed the filing date,and also,how do I finish my taxes with turbo tax,cuz it jus keeps sayin the irs ha not finalized one or more of my forms

Re: Recover rebate credit

Dj041891 — Mon, 28 Dec 2020 04:00:50 GMT

And yes I was asking about the recovery rebate credit for the stimulus check

Re: Recover rebate credit

Hal_Al — Mon, 28 Dec 2020 12:21:35 GMT

2020 tax forms are not ready yet. The TurboTax software is also not fully ready. You will not be able to file until the last week in January. This situation happens every year, but 2020 may be the worst yet.

"In essence, the stimulus check acts as an advance of your 2020 income tax refund. This means when you prepare your 2020 income tax return, there will be a line to include the section 6428 credit (line 30 on the 2020 form 1040). The credit on your 2020 return is subtracted by any amount received as a stimulus check in 2020. If the amount you received as a stimulus check is less than the credit you are due, the difference will be included as part of your 2020 refund. If you have been overpaid by receiving the stimulus check, however, you will not be required to return any excess amount".

The TT interview will ask about the stimulus, in the Federal Review section, near the end of the program.

Re: Recover rebate credit

xmasbaby0 — Mon, 28 Dec 2020 13:39:03 GMT

@Dj041891

"because I must’ve missed the filing date,and also,how do I finish my taxes with turbo tax,"

That comment is unclear. But if you mean that you started a 2019 return and did not not file it, you did miss the deadline and now the only way to file a 2019 return is by mail. The online software is only for 2020 returns, which cannot be filed yet as it is too early to file a 2020 return.

Online tax preparation and e-filing for 2019 returns is now permanently closed. You had until midnight on Thursday, October 15, 2020 to finish and attempt to e-file; if your e-file was rejected you had until October 31, 2020 to make corrections and re-file. Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your 2019 return, you now have to complete it using desktop software, which you must download to a full PC or Mac (not to a mobile device).Then you need to print, sign and mail it.

https://ttlc.intuit.com/questions/2559403-how-do-i-finish-a-prior-year-return-that-i-started-in-turbotax-online

If you already paid for your online software you can ask customer support for a download of the desktop software.

They are available from 5 a.m. to 5 p.m. Pacific time Monday-Friday.

https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

If you are getting a refund, there is no penalty for filing late. If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe. Only the IRS will calculate this—TurboTax will not calculate it.

Re: Recover rebate credit

wilenaroses — Fri, 08 Jan 2021 15:17:00 GMT

I have a question I owe childsupprt last year stimulus went to the father so I didn't receive nothn an I am also a student that not claim by no one would I qualify for recovery rebate

Re: Recover rebate credit

DanielV01 — Fri, 08 Jan 2021 15:24:38 GMT

I honestly have not seen specifically. However, it is my understanding that the rules for the second stimulus payment are the same as the first. Therefore, if that's the case and you still owe child support, you will not receive the second stimulus either. Being a student does not prevent you from receiving the stimulus if you are an independent filer, but owing back child support does.

Re: Recover rebate credit

wilenaroses — Fri, 08 Jan 2021 19:34:18 GMT

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