Stimulus payment, reporting of

[Jonathan1]

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]

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.

[Critter-3]

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

[NCperson]

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.

[VolvoGirl]

See these 3 IRS questions on reporting it on your 2020 return

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

[DavidF2]

Stimulus payment may be taxable by the state (i.e.  Alabama).  Where is it reported in Turbotax 2020?  Is it reported as 1099-Misc or 1099-G?  Is it transferred to the State form?      

[NCperson]

the stimulus will appear as a tax credit on Line 30 of Form `1040.  It is NOT income so has no impact on any state income tax forms.  it was reported on From 1444 when you received the payment (that was the letter from Trump and the White House - we were supposed to save it - who knew!) 

[xmasbaby0]

Your stimulus payment is NOT taxable.   You will be asked on your 2020 federal return if you received the stimulus payment .  The information will end up on line 30 of your federal Form 1040.

You will not get a document like a 1099G or 1099Misc.  After the payments went out there was a letter sent to you.

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

[Critter-3]

It is not reported on any tax form, it is NOT taxable income and  it is NOT entered as income anywhere on the federal return.   If you did not get the CREDIT in advance you can get it on the 2020 return you file next year ... the credit will show on line 30 of the form 1040. 

[NCperson]

<<It is not reported on any tax form>>

@Critter-3 - technically, it was reported on tax form 1444.   That is the letter from the White House that each recipient received shortly after receiving the payment.  We were supposed to save that for our tax documentation.  Who knew? 😃

[Critter-3]

Technically that 1444 was a notice that was purely informational   not an income tax reporting form like a W-2 o 1099  ... and mine did say to save the notice for use on the 2020 return along with the amount that was sent.  

Generic notice:   https://www.irs.gov/pub/irs-pdf/n1444aes.pdf