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You will not see the Recovery Rebate Screen if you do not qualify for the RRC. The RRC is based on your 2020 tax return. Do you qualify based on your 2020 income?
The first and second payments were advanced payments for 2020. Since the IRS did not have 2020 tax returns when they sent out the payments, they used 2018 and 2019 information. However, the amount of RRC you should receive is calculated using 2020 income.
2019 income was only relevant for sending out last year's payments. The IRS stopped sending those out. Any missing payments are added to the 2020 tax return as a refund. Those payments are based on 2020 income.
Yes, to manually get to the TurboTax Recovery Rebate Credit (RCC) section, search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.
Stimulus payments were advances on the Recovery Rebate Credit, which is based on your 2020 income tax return.
We'll make sure you get the money you qualify for by double-checking the amount and quantity of stimulus payments you received.
To be eligible for the first stimulus payment: Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200 ($2,400 for a joint return) if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:
Thanks! I tried the suggestion but there is no TurboTax Recovery Rebate Credit (RCC) section I can jump to when I search "stimulus". I guess Turbotax thinks I'm not eligible for the stimulus so it doesn't provide the option. But I checked your requirement and IRS website as well, and I'm sure I meet all requirements. Is there any solution to solve my problem?
You will not see the Recovery Rebate Screen if you do not qualify for the RRC. The RRC is based on your 2020 tax return. Do you qualify based on your 2020 income?
The first and second payments were advanced payments for 2020. Since the IRS did not have 2020 tax returns when they sent out the payments, they used 2018 and 2019 information. However, the amount of RRC you should receive is calculated using 2020 income.
2019 income was only relevant for sending out last year's payments. The IRS stopped sending those out. Any missing payments are added to the 2020 tax return as a refund. Those payments are based on 2020 income.
Thank you!
That makes some sense now. My 2019 income is below $75,000 and my 2020 income is above $75,000. So that's the reason I can't get "Recovery Rebate Credit", right? I'm just wondering whether I can find the same instruction on the IRS website for confirmation.
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