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Wait, we are doing 2020 taxes now, not 2021. The Recovery Rebate Credit on your 2020 return is just for Stimulus #1 and/or #2. But the IRS might deny you if your ex already received those payments
The IRS is sending out Stimulus #3 payments in batches, and will take a few weeks to complete them all. This one comes to you separately (and automatically), not as part of your 2020 tax refund. You can check the status here:
Get My Payment | Internal Revenue Service (irs.gov)
No the new 3rd Stimulus is not on your 2020 return. It only includes the first 2. How old are your children? If they are under 17 you should get all the amounts on 1040 line 30.
For #1 1200 for you plus 1500 for 3 kids
For #2 600 x 4 people
Total 5100 on line 30.
When you finish the Review section it will ask how much you already got. Enter 0 in the 2 boxes.
When you go through the federal review tab it will ask how much you got if any. Enter a 0 in the box if you didn't get one. Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus."
After you have entered your tax information and are ready for the Federal Review, it will be the first question.
If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.
If you didn't get one or both of the Stimulus payments or qualify for more it will be the Recovery rebate credit on 1040 line 30. It either adds to your refund or reduced a tax due.
Before filing, You can preview the 1040 or print the whole return
If the children lived with you in 2020, you probably are able to file as Head of Household.
Ok ppl - my taxes I just did this week for 2020 only shows the exact amount of the third stimulus check as a credit.
I didn’t get any credit for stimulus 1 and 2. My kids were 13, 12, and 8 and my income was low enough. I answered the question as zero for not receiving any and re-entered my AGI figures as it asked for.
so what else can I file to get stimulus 1 and 2? They lived with me 90% of the time plus per the decree I get to claim them every year.
The third stimulus payment will not be reflected in your 2020 income tax return and is unrelated to the Recovery Rebate credit claimed may be claimed on your 2020 income tax return.
Information on third stimulus payment
The 2020 income tax returns provide a Recovery Rebate Credit in the event you were supposed to receive the first or second stimulus payments but never did.
The amount of the Rebate Recovery Credit is based upon your actual 2020 income tax return you file. Therefore, if you meet the criteria for the credit, you will receive it when you prepare your 2020 income tax return. Any excess credit is then refunded to you if there is an overpayment on your tax return.
Please see the attached link for more information on who can claim the credit.
Recovery Rebate Credit eligibility
When you prepare your 2020 income tax return, be sure to do the following to ensure the credit is calculated correctly on your income tax return.
@hneskora27 How much is on line 30? It is only for the first 2. The third one is not included on your 2020 return. You must be seeing the first 2 amounts. Is it 5,100 like I said above? Make sure your children are showing up on your 1040 as dependents and check their date of birth.
The 3rd one should be 4 of you x 1400 = 5,600.
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