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My wife and I received the 6475 Letter for the 3rd Stimulus payment. TurboTax is not asking us to enter the 6475 info because our 2020 return indicates that we did not qualify for the 3rd stimulus payment. However, we did receive the 3rd payment in March because we had not yet filed our 2020 taxes. So, we did receive the money but TurboTax assumes we did not and therefore does not ask us to enter the info from the 6475 Letter. How to we enter it?
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If you are not eligible for the third stimulus payment based on your 2021 tax return, you do not have to enter the amount from the IRS letter. If you are married filing jointly you are not eligible if your 2021 AGI is $160,000 or more. In that case, TurboTax doesn't ask whether you received the payment because it doesn't matter whether you received it or not. The purpose of asking about the payment you received is to determine whether you are entitled to a Recovery Rebate Credit on your 2021 tax return. Bur if your AGI is over the maximum, you cannot get the Recovery Rebate Credit in any case, so there is no need to ask whether you received the payment. Form 1040 line 30 should be blank.
You can keep the payment that you received. You do not have to pay it back.
You enter the amount received for the third stimulus in the Federal review section.
I never get to the place to answer yes or no. My original post explains this. Just wanting to make sure we are filing correctly.
In TurboTax Online, you are prompted to input the third stimulus check information under Review down the left hand side of the screen. You can also access your stimulus check choices by following these steps:
In TurboTax Desktop, follow these steps:
Have you been given for the third stimulus payment? You should be able to view the Recovery Rebate Credit Worksheet and line 30 of your Federal 1040. View the entries at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.
The qualifications for the third stimulus payment are:
There are income limitations are if your adjusted gross income (AGI) is more than:
Thank you, this answered my question. However, I believe this explanation should have been posted in TurboTax 2021, especially the Premier version. I spent and lost a lot of valuable time, more than I paid for the TurboTax program several times over, searching for this answer. Love to know if others have comments on this answer. Thank you, again.
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