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Level 3
posted Apr 5, 2022 11:26:54 PM

Change Recovery Rebate Credit Entry

I entered my Recovery Rebate Credit amount and need to change it. I can't figure out how to get to it to make the change.


Thanks!

0 2 435
2 Replies
Expert Alumni
Apr 6, 2022 4:54:39 AM

Please be aware, that the Recovery Rebate Credit question will only come up if you qualify for the Recovery Rebate Credit.

 

To claim/edit the Recovery Rebate Credit in TurboTax, please follow these steps:

 

  1. After entering all your information click "Search" at the top right and type "Stimulus".
  2.  Follow the jump to link (if you do not qualify for the Recovery Rebate Credit the stimulus questions will not come up). 
  3. On the screen "Let's double-check the amount you received" you will be asked about the amount of third stimulus payment you received. TurboTax will then calculate the amount of stimulus payment remaining that you are still entitled to get.  
  4. Any stimulus amount remaining due to you will show as The Recovery Rebate Credit on line 30 of Form 1040.

 

To be eligible for the Recovery Rebate Credit you need to be a U.S. citizen or U.S. resident alien in 2021 and have a Social Security number that is valid for employment.

 

You cannot be claimed as a dependent by someone else to be eligible. 

 

Your credit amount will be reduced if your 2021 adjusted gross income (AGI) is more than: 

  • $150,000 if married and filing a joint return or filing as a qualifying widow or widower
  • $112,500 if filing as head of household or
  • $75,000 for eligible individuals filing as a single or as married filing separately.  

Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above. (IRS FAQ Recovery Rebate Credit )

Level 3
Apr 6, 2022 9:30:32 AM

@DanaB27 That explains it. TurboTax asked if a payment was received for my other granddaughter who is not a dependent and I didn't understand why it didn't ask about the one who is a dependent. Now I see she is not eligible. Thank you.

The other granddaughter is an interesting case. She was being claimed as a dependent and the payment went to her parent. But then this granddaughter made so much money that she couldn't be a dependent when she is filing now. So not being a dependent TurboTax asked if she'd received a payment.

She hadn't; it went to her mother. But I told TurboTax she had received it or else the government would be paying it twice!

Thank you, Peter