Stimulus payment, reporting of

Forum|Forum|5 years ago
December 9, 2020
10 replies
68 views

As I understand it, the stimulus payment — or economic impact payment, as the IRS calls it — is technically a tax credit for 2020. I received a total of $2,400 (spouse and I). Where (what section or line) do I report this on for my Federal Taxes.

xmasbaby0

Level 15

You will be asked about the stimulus check. Information about it ends up on line 30 of your

form 1040. The stimulus money is not taxable.

**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.**

Critter-3

Level 15

Just follow the interview ... everyone will see this screen in the Federal Review tab ...

NCperson

Level 15

yes, it is a tax credit (sort of), but that doesn't mean that when you calculate your tax return there will be ANOTHER $2400 reduced from your tax return. (which is the kinda way I read into your question)

look closely at Line 30 of Form 1040 that is where any ADDITIONAL EIP will be listed for people who didn't get the maximum amount back in the spring and are eligible now. But if you received $2400 in the spring (2 people, no children) then Line 30 will be zero when you complete your return.