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skiboarder
Level 1

Can the stimulus payments be entered in TurboTax Free Edition (Online) when doing a 2020 return? If so, do both payments (from April, and first week of Jan.) get totaled and entered?

Can the Economic Impact Payments (EIP) / stimulus be entered in TurboTax Free Edition (Online) when doing a 2020 return?

 

If so, do both payments (the payment from April 2020, and the payment received first week of Jan. 2021) get totaled and entered?  Heard that there was a form at the end where this amount is entered.

 

The second stimulus payment was "received" Jan. 6, 2021, though apparently it may have been "sent" out in 2020. Hence the reason for the question. Is the second stimulus amount considered for 2020, or 2021?

1 Best answer

Accepted Solutions
HelenC12
Employee Tax Expert

Can the stimulus payments be entered in TurboTax Free Edition (Online) when doing a 2020 return? If so, do both payments (from April, and first week of Jan.) get totaled and entered?

Yes, if you qualify to use the TurboTax Free edition, you would be able to enter your two stimulus payments. You don't add them together. There is a separate box for each amount.

 

TurboTax Free Edition is an online-only product that supports simple tax returns that can be filed on Form 1040 without any attached schedules.

Simple tax situations covered in TurboTax Free Edition:

    • W-2 income
    • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
    • Claiming the standard deduction
    • Earned Income Tax Credit (EIC)
    • Child tax credits

Situations not covered in TurboTax Free Edition include:

  • Itemized deductions
  • Business or 1099-MISC income
  • Stock sales
  • Rental property income
  • Credits, deductions, and income reported on schedules 1–3, such as the Student Loan Interest Deduction

Related Information:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
HelenC12
Employee Tax Expert

Can the stimulus payments be entered in TurboTax Free Edition (Online) when doing a 2020 return? If so, do both payments (from April, and first week of Jan.) get totaled and entered?

Yes, if you qualify to use the TurboTax Free edition, you would be able to enter your two stimulus payments. You don't add them together. There is a separate box for each amount.

 

TurboTax Free Edition is an online-only product that supports simple tax returns that can be filed on Form 1040 without any attached schedules.

Simple tax situations covered in TurboTax Free Edition:

    • W-2 income
    • Limited interest and dividend income reported on a 1099-INT or 1099-DIV
    • Claiming the standard deduction
    • Earned Income Tax Credit (EIC)
    • Child tax credits

Situations not covered in TurboTax Free Edition include:

  • Itemized deductions
  • Business or 1099-MISC income
  • Stock sales
  • Rental property income
  • Credits, deductions, and income reported on schedules 1–3, such as the Student Loan Interest Deduction

Related Information:

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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