Turbo tax Not calculating stimulus correctly

[Radwaste50]

I am working on 2020 taxes everything is about complete but...

In 2019 filed MFJ, Our AGI was less than 150,000 and we have two dependents under age 17

The first stimulus paid 2900, I think it should be 3400

The second paid 1800, and I think it should be 2400 

This should be claimed this year as a tax credit according to the IRS website.  But TurboTax says we got all we should have.

Am I overlooking something? Is this a calculation error in TT

[DMarkM1]

Please verify that both of your dependents are under age 17 on your 2020 tax return and your income is showing below $150,000.  The correct amount of Recovery Rebate Credit is based on the information in your 2020 return only. The amounts you received as stated in your post would be correct if one of your dependents turned age 17 in 2020. 

Here is a link that will help explain the Recovery Rebate Credit.  

[Florenceann0]

Same thing here. I didnt get the $500 or $600 for my son but did for my daughter. But turbotax is saying I got what I should have and irs told me I didnt and put what I'm missing on line 30 on a 1040 form. Turbotax cant figure out how to get me to the form because its saying I got what I should have even though irs told me I didnt so I will with taxes but now what I dont know how to put it in

[JamesG1]

The TurboTax software adds together the entries that you made for receiving stimulus check 1 and stimulus check 2.

Then the software computes the amount of your stimulus check amounts based upon the information that has been entered into the tax software. 

If you are due an additional amount, it will be issued as a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return.

If you believe that you are due a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return, then you should:

• Check the amounts entered for stimulus check 1 and stimulus check 2, and
• Make sure that you have correctly entered your dependent information.

If there is a difference, it is in one or both of these situations.

In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.

You can also access your stimulus check choices by following these steps:

 Down the left side of the screen, click on Federal.

• Across the top of the screen, click on Other Tax Situations.
• At the screen Let’s keep going to wrap up.  Click on Let’s keep going.
• At the screen Let’s make sure you got the right stimulus amount, click Continue.
• At the screen Did you get a stimulus payment? you can update your stimulus check entries.

 See also this TurboTax Help.

[robinl4415]

Do you have any suggestions for this situation: Filing with two dependents this year, but only had one last year due to a custody agreement with the other parent. TurboTax says I am owed $1100 for my second dependent but that payment went to the other parent. Is there a way to override this so that I don't get sent money that I have to repay with penalties later?

[AmyC]

There is one quirk in the stimulus package, divorced parents get to double dip. This means that you do qualify for the stimulus. See Economic Impact Payments

@robinl4415

[Florenceann0]

Yes I know I put in the amount I received but because they went off my 2018 taxes they didn't give me the right amount my son was born October 2019. So I should be getting $1,100 for him but cant because its saying that I received the right amount when even the IRS is saying I didnt. And no one that i have talked to on this turbotax knows how to do it i guess.

[AmyC]

I played with the program. I added a dependent for 2019 and put in the amounts received. The refund went up and the program still said I had received the right amount. Please take a look at your actual return, line 30 and see if the program added it to yours like it did to mine. See How do I preview my TurboTax Online return before filing?

@Florenceann0

[Eddthe]

I am having the exact same problem. I am missing 1100 due to my son being born in 2019 but the IRS used my 2018 return for both Stimulus checks.

For some reason Turbotax says It looks right even though both 2019 and 2020 returns have 2 dependents listed.

I'm thinking this is a TT issue.

[AmyC]

Please take a look at your actual return, line 30 and see if the program added the stimulus to your return regardless of the words on the screen. There is a mismatch. See How do I preview my TurboTax Online return before filing?

@Eddthe

[Florenceann0]

Yes it definitely is turbotax issue because I just tried in another tax website and had no problem getting the form and seeing it. But not here can't see/get the form. And of course the people that call ya are worthless and say oh do this do that and still NOTHING! I have checked and checked and nothing. So its definitely turbotax. 

[Florenceann0]

So I was able to see my return but nothing on line 30. When it should be $1,100. 

@AmyC 

[DawnC]

Is one of your dependents not eligible (17 or older as of Dec 31)?   I have seen this issue occur when a taxpayer received the stimulus for a child that was not eligible but also had a newborn that did qualify but received no payment for.   And because the amount received was technically correct, the credit does not appear.   @Florenceann0

[Radwaste50]

Dependents are 1 and 4 and are included on this return and 2019

I can edit the values to make it correct but TT is incorrect

[KathrynG3]

TurboTax initially calculates this based on the prior year tax return, but it does require you to report what has been received so far. 

Just to make sure you are reporting this in the expected section, you will 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 (in CD/Download, click Done with Other)
• 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, please refer to: Questions and Answers about the Second Economic Impact Payment which is still getting updates. 

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

@Radwaste50