Recovery Rebate Credit - incorrect amount calculated?

[epalma]

Hello,

I didn't get the first round of stimulus payments. I was supposed to get $2400 (married filing jointly for 2020) plus $500 for my son.

In the second round I got $1,200. I was supposed to get $1200 (married filing jointly) plus $600 for my son. My wife has an ITIN, not a SSN. 

In the TurboTax Software I was asked if I got any of the checks. I put $0 for the first payment and $1200 for the second one. I was expecting at least $2900 (corresponding to the first check) and not sure if we would get additionally $600 for the second as my wife does not have a SSN, however, the software calculated $1700. Could you please let me know how it is actually calculated? Thank you so much. 

[DMarkM1 · Accepted solution]

According the latest guidelines found here, your spouse does not have a social security number valid for employment and therefore is not eligible for stimulus payments. 

The calculations would be as follows:

Round one:  $1200 for you and $500 for dependent child age 16 or under

Round two:  $600 for you and $600 for dependent child age 16 or under

You are eligible for a total Recovery Rebate Credit of $2900 less any payments already received ($1200) for a remaining credit added to your return of $1700.

[epalma]

It does make sense. Thank you  @DMarkM1!

[100Slovonic]

in doing my taxes on turbo for 2020; my stimulus credit was calculated as $1287.

i received 1st payment of $512.80 on an eip card;

i did not recieve a second payment.

my adjusted gross income  2019 was $107,384 ; i retired on 1/31/20 currently not working -

can you help me?

[KathrynG3]

Yes. You will need to report what you have received in TurboTax to calculate any eligible Rebate Recovery Credit.

This section is at the beginning of the Federal Review. But, to see it, you need to be at the end of Other Tax Situations, first. To get there in TurboTax Online, follow these steps:

• In your return, click the Other Tax Situations tab toward the top of the page
• Scroll down to the end and click Let's keep going
• At Let's make sure you got the right stimulus amount, click Continue
• Be sure to report an amount for each of the stimulus payments as received. If the particular payment was not received at all, enter 0 and click Continue

For more information, see: Recovery Rebate Credit

To check your payment status with the IRS, go to: Get My Payment Link. 

@100Slovonic

[Letydiaz1027]

Hi,

Please help me if you can. I got the first round of stimulus payments totaling $2900 (married filing jointly ) plus $500 for my son, that was all correct.

But In the second round, I only got $1,200 (for me and my husband)

It was supposed to be $1,800 because (married filing jointly) plus $600 for my 8 year old son.

The turbo tax software showed the amounts that I received as $2900 from the first round and $1200 from the second round. It would not let me apply the missing $600 that was missing for my son as the recovery rebate.

Has this happened to anyone else? I've tried calling the IRS and go in circle with all the reps.

[Letydiaz1027]

Hi,

 I got the first round of stimulus payments totaling $2900 (married filing jointly ) plus $500 for my son, that was all correct.

But In the second round, I only got $1,200 (for me and my husband)

It was supposed to be $1,800 because (married filing jointly) plus $600 for my 8 year old son.

The turbo tax software showed the amounts that I received as $2900 from the first round and $1200 from the second round. It would not let me apply the missing $600 that was missing for my son as the recovery rebate.

When I entered the amount I received as $1200, it said you received the correct amount so you do not qualify for the rebate.  I've tried calling the IRS and they just transfer me to a line that says to try back later.

[VolvoGirl]

Are you claiming him on your return?  Go back to My Info and check his entries like birthdate.  Are you sure you don't have the 600 on 1040 line 30?  You entered 2900 and 1200 in the 2 boxes?

Before filing,  You can preview the 1040 or print the whole return

https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...