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TomKiel
New Member

Stimulas check and deduction

I see where you enter the stimulas payment and it seems to be a deduction.  Where if any do you claim it as income.

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Stimulas check and deduction

The stimulus payment is not entered as income on a tax return.  Any stimulus not received is entered a credit on the 2020 federal tax return.

 

The stimulus questions are asked in the Federal Review section of the TurboTax program.  Any payment you were eligible to receive based on the 2020 Federal tax return but did not receive will be entered on the Federal tax return, Form 1040 Line 30 as a tax credit.  The credit is included in the federal tax refund or it will reduce the amount of federal taxes owed.

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