Covid payment #2

Forum|Forum|5 years ago
February 10, 2021
3 replies
16 views

My spouse got her $600.00 payment. I did not. I am retired with no income except Social Security. Where do I put in the credit in Turbo Tax 2020?

xmasbaby0

Level 15

The stimulus check is an advance on a credit you can receive on your 2020 tax return. If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”) If you are eligible it will end up on line 30 of your 2020 Form 1040.

Make sure that you enter ALL of the stimulus money received for the 1st ad 2nd stimulus for yourself, your spouse and your children.

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-2020-tax-return

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

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.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

middlepayne

Level 2

Do you have to enter the $600 stimulus on your 2020 taxes if you did not receive it in 2020?

VolvoGirl

Level 15

Yes a payment you got in January or February 2021 is an Advance and based on your 2020 return. Enter the second Stimulus payment on your 2020 return now. The year you got it doesn't matter. If you don't report it Turbo Tax will give it to you again, which would be wrong and double. The Stimulus entry screen says the second one is between Dec 2020 and Jan 2021 so you should include any payments you received in January and February.