Third Economic Impact Payment

[JillS56]

To get to the screen to enter your economic impact follow the instructions below for the program that you are using.

If you are using TurboTax Desktop,

1. Open TurboTax and your return if you are not already there
2. Search for "Stimulus"
3. Click on "Jump To" this will take you to the page where you enter your 3rd economic impact payment (stimulus).

If you are using TurboTax Online,

1. Open TurboTax and your return if you are not already there
2. Go to Federal 
3. Search the term "Stimulus"
4. Click on "Jump To" this will take you to the page where you enter your 3rd economic impact payment (stimulus).

[plmccann]

EDIT:   @DoninGA 's response does show the limits. 
@N140ora  I had the same issue where the questions did not pop up.  TurboTax does not make it clear that if your income is over a certain limit then you are not eligible for additional rebate on line 30.  Unfortunately TurboTax doesn't show the Recovery Rebate Worksheet   .  It became clear when I got to this statement "You can't take the credit. Don't complete the rest of this worksheet and don't enter any amount on line 30."

We are conditioned to enter data and when we have a letter (6475)  from the IRS we expect that the information should be entered somewhere.
Hope this helps.

 

[KrisD15]

Perhaps you are not eligible for the Recovery Rebate Credit. 

The payments do not need to be paid back, so if you are not eligible for the credit, the program would not be concerned with the payment. 

The IRS sent the letter for your (the Taxpayer) information. It is not a "tax form" which needs to be reported on your return. 

According to the IRS:

"This letter helps EIP recipients determine if they’re eligible to claim the Recovery Rebate Credit on their 2021 tax year returns."

IRS Letter 6475

@N140ora

[pistor1]

None of the screens following have a question regarding the stimulus question.  Why did TT make this so hard to find, when it applies to almost everyone?

[xmasbaby0]

@pistor1 TurboTax has not made it hard to find.   If the screens for the recovery rebate credit in Federal Review are not appearing for you, then either you said you are able to be claimed as someone else's dependent or your income is too high and you are not eligible for the credit.  If you are not eligible, the screens do not appear for you.

[Nancy Lancaster]

the 3rd stimulus was calculated on 2020 earnings but really it is based on 2021 earnings.  With my 2020 earnings it seemed that I was eligible but my 2021 earnings were significantly higher.  I need to pay back the stimulus.  But where will TT allow me to do that?

[KrisD15]

Correct.

Overpayments do not require repayment. 

According to the IRS:

"there is no provision in the law that would require individuals who qualified for, and received, a third-round Economic Impact Payment (including a plus-up payment) based on their 2020 or 2019 information, to pay back all or part of the payment if, based on the information reported on their 2021 tax returns, they would have qualified for a lesser amount."

Link

@Nancy Lancaster

[jcamp_331]

I am doing my taxes now with married jointly and it says my AGI of $129,000 is too much for the 3rd payment of $2800 last year so it took $1400 from our refund. So I tried them married separate and my husbands is fine after it asks the question of $1400 but when I do my taxes since I made more last year then it takes the $1400 off my refund.

If your saying the IRS says we don't have to pay the money back, then why am I automatically having the $1400 taken out of my federal refund after saying "YES" to the question and can't continue without answering.  It's not my fault my job was short staffed and I was mandated to work the extra shifts!  How do I get around this question and not paying back the $1400?

[AmyC]

If you paid taxes in 2021 and met the income requirement you may have received a check. However, non-US-citizens or nonresidents are not eligible. If you fall into this category and received a check, you may have to repay it.

If this is not the case, you can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, here are the instructions: 

If you are online, go to tax tools>tools > share file with agent > 6 digit number pops up.

If on desktop, go to online >send tax file to agent > number pops.

Reply with the 6 digit # here and @AmyC please

@jcamp_331

[jcamp_331]

I hoped this worked Amy 🙂

980101 @AmyC 

Thanks,

Jessica

[VolvoGirl]

@jcamp_331   If you are filing a joint return you qualify for 2800.  Your AGI is under max.  Did you get any of the 3rd Stimulus payment last year?  You need to enter the full amount you got.  You should each get IRS letter 6475 for half.  But you need to enter the total for both. So Double check your bank account and  your IRS account (both accounts if married).

Your Online Account | Internal Revenue Service

1040 Line 30 is only if you didn't get the full amount or qualify for more. 

It is not taxable and you aren't paying it back.  Your 2021 return starts out by assuming you didn't get any Stimulus payments so it gives you credit for the full amount and your refund was too high.  Then near the end you enter how much you actually got so it only gives you the difference if any.  So you don't get it again.

[jcamp_331]

Yes I got the full $2800 last year and the question asked if I got the full $2800 and I selected "YES".  Once I did that and hit continue then it recalculated my refund and took away $1400 and said based on my AGI of $129,000 were eligible for the $2800 and confidant you received every dollar of the stimulus money.

If I qualified and don't have to repay per the IRS, then why did my refund just go down the $1400?  My refund amount before this question was roughly what I normally get every year, now it's less.

[VolvoGirl]

Can't figure that one out.  Did you claim a dependent in 2020 or 2021?  When you answered yes you got the full 2800 last year the refund should have gone down 2800 on a joint return.

It went down because Turbo Tax started out giving you all the credit.  Then at the end you enter how much you already got so it takes it out.  So you don't get it twice. 

[tcbarnett1996]

It is no present in the Home & Business version.  Where do I find it there?

[VolvoGirl]

Yes it is in all versions.   To get to the stimulus questions in TurboTax at any time, you can search for stimulus or recovery rebate credit then hit ENTER and there should be a Jump to link

If you are trying to trigger it,

Click on Other Tax Situations at top

Click on Let's get started

Answer some questions then Continue

Then click on Let's keep going

Next screen is for the Third Stimulus, if you qualify

If you did not get prompted to enter your stimulus information, that means you either:

1. Filed as a dependent being claimed on another tax return, or 
2. have an AGI too high to claim the recovery rebate

No credit is allowed when AGI is at least the following amount:

• $160,000 if married and filing a joint return or if filing as a qualifying widow or widower
• $120,000 if filing as head of household or
• $80,000 for all others.