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ourfamily123
Level 4

Its asking about 2 stimulus checks on turbo tax

The first stim was given in april 2020. The 2nd was given 1/2021.

While im filing it took me to a page asking about 1st stim and 2nd stim. Are we suppose to enter the 2021 stim chk too? Its asking about how much $ for both checks we received.

 

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Accepted Solutions
DoninGA
Level 15

Its asking about 2 stimulus checks on turbo tax


@ourfamily123 wrote:

I dont understand. Im filing and for 2020 we are suppose to enter the 2nd stim  that was received and deposited directly into bank in 2021? What rebate credit are you talking about? 
so even though it came in 2021 we are suppose to report it for 2020 taxes?

Yes, the stimulus payment you received in 2021 is an advance tax credit based on your 2020 federal tax return.  You report receiving the stimulus payment on the  2020 tax return.

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4 Replies
xmasbaby0
Level 15

Its asking about 2 stimulus checks on turbo tax

Congress passed the 2nd stimulus bill at the end of 2020.   The 2nd stimulus checks started going out at the very end of December 2020 and continued into early January 2021.  When you fill out the recovery rebate credit it is important for you to enter the entire total of the amount you have received for yourself, your spouse, and your dependent children so far.   Entering the wrong amount might delay your 2020 refund.

 

**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.**
ourfamily123
Level 4

Its asking about 2 stimulus checks on turbo tax

I dont understand. Im filing and for 2020 we are suppose to enter the 2nd stim  that was received and deposited directly into bank in 2021? What rebate credit are you talking about? 
so even though it came in 2021 we are suppose to report it for 2020 taxes?

DoninGA
Level 15

Its asking about 2 stimulus checks on turbo tax


@ourfamily123 wrote:

I dont understand. Im filing and for 2020 we are suppose to enter the 2nd stim  that was received and deposited directly into bank in 2021? What rebate credit are you talking about? 
so even though it came in 2021 we are suppose to report it for 2020 taxes?

Yes, the stimulus payment you received in 2021 is an advance tax credit based on your 2020 federal tax return.  You report receiving the stimulus payment on the  2020 tax return.

ourfamily123
Level 4

Its asking about 2 stimulus checks on turbo tax

Thankyou

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