TurboTax incorrectly states I am eligible for full amount of stimulus payments

[VolvoGirl]

Well forget about 2019 and 2018.  The Recovery Rebate Credit is now only based on 2020.  The prior payments were sent out using the 2019 returns but are really an advance on 2020.  So it is based on your 2020 AGI of 89,211.  That is over the max for Single.  I calculate you should get $489.45 for the Recovery Rebate Credit on line 30.

Try updating your program,   How to update the CD/Download Desktop program
https://ttlc.intuit.com/community/installing/help/how-do-i-update-turbotax-cd-download/00/26038

Try finding the questions again.....

When you go through the federal review tab it will ask how much you got if any. 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." Say no to the amounts it shows you. Then 2 boxes will open up for each round. If you didn't get one enter a 0 in the box.

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.

[VolvoGirl]

You said  "we" and "our" a couple times but you are filing SINGLE?  Are you married?  Are you filing Married Filing Separately?  Your AGI of 89,211 should give you some or all of the first 2 stimulus amounts.  Go back and double check you didn't say you are are Dependent under My Info.  

[ECC0]

Yes, confirmed single.  I had a person double checking all with me as we clicked through the CD solution the other week, which was where "we" came from.  Should have used "I."  Apologies for the confusion there.  Also, I did submit the return from the CD application with the 50 dollar refund only calculated by TurboTax.  So at this point I'm in amended territory and moving away from Turbo Tax to a local accounting/cpa firm to review and send the amended return.  Tried the amended return as well from TT and it isn't working for 2020.  Returns an odd 2019 form (didn't even use the CD program in 2019).  So hours messing with this (also had at least 2 tickets open with TT and a request for refund, maybe you can see those, no help with any).  Going with the local help solution to get this year's amended correctly completed and sent.  Thanks again.

[NCperson]

@ECC0 - if you are using the CD / download version, open up the return and reconfirm what is on Line 30...

if your AGI is $89211, then Line 30 should be: $ 489.45 and I agree with @VolvoGirl.

The math is 1200 - ($89211 - 75000) * .05 or $489.45 for the 1st payment 

then $600 - ($89211 - 75000) * .05, but not less than zero for the 2nd payment, so zero. 

I am quite surprised that the CD version doesn't reflect that . Mine did when i tested this scenario.

if anything greater than  $489.45 was entered for the 1st payment, then Line 30 is going to be zero.  I know you said you didn't receive anything and you stated you never entered anything, but if you look in TT right now is anything there?  Any chance you forgot you entered something? 

[rjs]

@NCperson  @VolvoGirl  @ECC0 

I hate to add confusion, but . . .

There is a bug in the TurboTax interview for the Recovery Rebate Credit when the AGI is in the phaseout range. The first screen, that says "Let's double-check the amount you received," incorrectly says that you are eligible for the full $1,200 and $600 (if single), even though the AGI is over $75,000. After you enter the amounts you actually received, the calculations on the Recovery Rebate Credit Worksheet are correct, and the credit on Form 1040 line 30 is correct. The bug only affects the amounts displayed on that first screen. But that screen tells you that you are eligible for more than you are actually eligible for.

[NCperson]

@rjs  right - I am aware of that and thought it was just poor wording..... what is disappointing is that I have used TT for over 25 years and this tax season, here we are in late April and these areas of TT have been a 'disaster' - I wonder if the company understand that:

1) Recovery Rebate bug through Feb 12 causing a number of users to wait a very long time for refunds and not understand why they got less than owed; and this confusion your rightly state

2) the mortgage deduction with multiple 1098's is totally buggy with 100s and 100s of complaints - it is not hard to understand the rules; why it's so difficult to program is what I don't understand. 

this is going the way Quicken did, until Quicken was sold by Intuit and got new owners 

[kathyhyneman]

I am having the same issue in that there are no prompts for the stimulus payments with the CD/download Turbo Tax.  I also had Turbo Tax take me through the same questions over and over and over.  I had to manually get out and do not know if I missed anything.  I have not had problems like this before, but Turbo Tax is not the product it was in years past.

[kathyhyneman]

Wow, so Turbo Tax's answer to this problem is to redo hours upon hours of work by getting a new copy that is not filled with bugs???  This program is a mess this year!!

[VolvoGirl]

No you don't have to start over.  Have you updated the program?  Are you on Windows or Mac?

How to update

https://ttlc.intuit.com/community/installing/help/how-do-i-update-turbotax-cd-download/00/26038

If your program says it's up to date or you can't update it then do the Manual Update.

https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-...

For the Stimulus payment.....

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.

If you are a dependent or your 2020 income is too high you won't get prompted for the Stimulus section since you can't qualify for any more.  And you don't have to enter what you already got and don't have to pay it back.  1040 line 30 is only if you qualify for more not what you already got.