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Webter
Level 2

stimulus payments

If you received the stimulus payment based on 2018 income but now 2020 income is over the maximum does the stimulus payment have to be paid back?  Where is this done?  I was never asked about the stimulus at all during the step by step

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DoninGA
Level 15

stimulus payments

No, the stimulus payment does not have to paid back if you were not eligible for the stimulus based on your 2020 federal tax return.

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3 Replies
DoninGA
Level 15

stimulus payments

No, the stimulus payment does not have to paid back if you were not eligible for the stimulus based on your 2020 federal tax return.

View solution in original post

jmbeckley
New Member

stimulus payments

If you were eligible for the first $1200 payment but did not receive before deadline, where do you take credit for it in taxes?

VolvoGirl
Level 15

stimulus payments

Before what deadline?  Did you get it at all?

When you go through the federal review tab it will ask how much you got if any.  Enter a 0 in the box if you didn't get one.  Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus."

 

After you have entered your tax information and are ready for the Federal Review, it will be the first question.

 

If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.

 

If you didn't get one or both of the Stimulus payments or qualify for more it will be the Recovery rebate credit on 1040 line 30.  It either adds to your refund or reduced a tax due.

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