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jarae427
New Member

How do we know if we will receive the 'Recovery Rebate Credit' from previous missing stimulus payments?

 
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3 Replies
CatinaT1
Expert Alumni

How do we know if we will receive the 'Recovery Rebate Credit' from previous missing stimulus payments?

You will have to include it in your 2020 return.

 

If you did not receive your first and/or second stimulus payment or if the amount received is not correct, you can claim it on your 2020 tax return as the Recovery Rebate Credit.

 

In TurboTax Online, to claim the Recovery Rebate credit please do the following:

  1. Sign into your account and continue from where you left off
  2. Click on Federal in the left-hand column, then on Federal Review on the top of the screen
  3. On the next page titled Let's make sure you got the right stimulus amount, click on Continue
  4. Follow the interview
  5. TurboTax will determine whether you are entitled to any additional stimulus
  6. Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.
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Sky01
New Member

How do we know if we will receive the 'Recovery Rebate Credit' from previous missing stimulus payments?

Is the Recovery Rebate Credit available if you're filing using the free version for simple tax returns?

DianeW777
Expert Alumni

How do we know if we will receive the 'Recovery Rebate Credit' from previous missing stimulus payments?

Yes. You have not lost your stimulus money. The Recovery Rebate Credit will cover both the first and second stimulus payments. This will determine the full amount of potential refund you are entitled to based on income and eligible dependents, and will be part of the final combined refund on your return, or reduce any amount owed, if applicable. It is required to be reconciled on the 2020 tax return.

 

In TurboTax Online, to claim the Recovery Rebate credit please do the following:

  1. Sign into your account and continue from where you left off
  2. Click on Federal in the left-hand column, then on Federal Review on the top of the screen
  3. On the next page titled Let's make sure you got the right stimulus amount, click on Continue
  4. Follow the interview and make the necessary edits to your actual payments received
  5. TurboTax will determine whether you are entitled to any additional stimulus
  6. Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.

Get My Payment - Select the button Get My Payment to see if your information is current based on the payments you did receive.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
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