Do I claim my stimulus check on my taxes?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Do I claim my stimulus check on my taxes?

 
10 Replies
Level 15

Do I claim my stimulus check on my taxes?

Not sure what you mean by "claim " it---the stimulus check is not taxable.  You will be asked about it--you will answer whether you received it in 2020 but you will NOT be taxed.  (Edited to include the word NOT)

 

 

The stimulus check is an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get the stimulus check this year, you can get it when you file your 2020 return in early 2021—if you are eligible.It will end up on line 30 of your 2020 Form 1040.

 

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...

 

https://www.irs.gov/coronavirus/coronavirus-tax-relief-and-economic-impact-payments-for-individuals-...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 15

Do I claim my stimulus check on my taxes?

Yes but it's not taxable.  You enter how much you got at the end so you don't get it added to your tax return again.  Or if you are entitled to more it is added to your return.

Level 15
Level 15

Do I claim my stimulus check on my taxes?

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."

 

Level 15

Do I claim my stimulus check on my taxes?

Just follow the interview ... everyone will see this screen in the Federal Review tab ...

 

2020 stimulus Q.jpg2020 stimulus Q learn more .jpg

 

Since the question about the stimulus doesn't happen until the END of the interview the program calculates the credit and includes it in the refund meter  early in the interview ....  but  UNTIL you indicate how much you actually got in the ADVANCE payment it cannot know the correct amount is as  you are not allowed to get it again.   I think the timing of this question is not ideal however the Refund-O-Meter is not to be believed until you have completed the entire interview process.  This is a question we will have to answer a lot I fear just like the "missing" EIC & CTC credits.  

 

 

See information from the IRS:

Recovery Rebate Credit | Internal Revenue Service (irs.gov)

Level 15

Do I claim my stimulus check on my taxes?

my EIP was based on my 2019 AGI.

Will the EIP now be based on my 2020 AGI ??

Level 15

Do I claim my stimulus check on my taxes?

I think only if you qualify for more.  But they won't take any back if it should have been less.

Level 15

Do I claim my stimulus check on my taxes?

Level 15

Do I claim my stimulus check on my taxes?

@fanfare 

 

This is like the story of Goldilocks in a way ... for some the amount they got in advance  was too little, for some it was too much and  for others it was just right.     The EIP will be calculated on the 2020 information however if you got too much in advance you don't have to pay it back  but if you didn't get enough then you will get more.  Most people got the correct amount in advance to they will balance out exactly. 

Level 15

Do I claim my stimulus check on my taxes?

What ever happened to Goldilocks? Did things work out for her? Or did the bears eat her.?

Level 15

Do I claim my stimulus check on my taxes?

LOL ...Goldilocks ran down the stairs, opened the door, and ran away into the forest. She never returned to the home of the three bears.   Much like the way I do on some of these questions.  

Dynamic Ads
v
Privacy Settings