Do I need to enter anything into turbo tax about the stimulus payments I received in 2021? If so where do I do this?

[mditullo]

Outside of receiving Child Credits, we received 2 stimulus payments in early 2021. I was not asked about these while filling out my taxes and want to ensure I am doing this correctly. If I understand correctly, they are not taxable, but should be reported.

[xmasbaby0]

You should have received letter 6475 from the IRS.   You need to enter the information that you did receive those stimulus payments in the recovery rebate credit section of Federal Review.

[VolvoGirl · Accepted solution]

The 3rd IRS Stimulus payment that was 1,400 per person?   Yes you need to enter it just to see if you got the right amount and qualify for any more.  You don't enter the 2nd 600 one that came in Jan or February 2021.   That was for 2020.

To get to the stimulus questions in TurboTax at any time, you can search for stimulus and use the Jump to link.  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 did not get prompted to enter your stimulus information, that means you either:

1. Filed as a dependent being claimed on another tax return, or 
2. have an AGI too high to claim the recovery rebate

[BadCustomerService999]

These instructions have not worked for me.  The program has not asked for my stimulus in the final review nor am I able to search for 'stimulus'.  Other suggestions?

[VolvoGirl]

As I said above.....

If you did not get prompted to enter your stimulus information, that means you either:

1. Filed as a dependent being claimed on another tax return, or 
2. have an AGI too high to claim the recovery rebate

No credit is allowed when AGI is at least the following amount:

• $160,000 if married and filing a joint return or if filing as a qualifying widow or widower
• $120,000 if filing as head of household or
• $80,000 for all others.

If your 2021 is too high to qualify for the Recovery Rebate Credit it won't ask you for it.  If your AGI is too high you don't have to enter what you got or letter 6475 and you don't have to pay it back and it is not taxable.  See IRS Topic H 3rd question

Questions and Answers about the Third-round Economic Impact Payment — Topic H: Reconciling on Your 2...

The Recovery rebate credit on line 30 is only if you didn't get the full Stimulus payment or qualify for more.

[doddl]

re:   in response to the 2021 stimulus post

1. I received the full $1400

2. My AGI is less than $73K

3. When asked if the amount received equals the IRS letter I answer yes and enter the $1400 which increases my tax liability by $1400

4. according to posts, TT will ask, in a follow-up, the stimulus amount received to offset the amount reported - it does NOT

5. According to posts, I can enter the $1400 amount in line 30 on my 1040 which causes an error.

6.  Unless I read  the IRS website wrong,  the amount entered in line 30 is to be the difference between the qualified stimulus amount ( in my case $1400) and the amount actually received, again in my case having received the full amount, the entry should be "0"

in summation,  I have followed instructions.   MY question now is

1.  how do I answer  "yes"  and not have my tax increase by $1400, or 

2.  where in TT do I find the a page to enter the $1400 which offsets the amount entered.

Yes, this has been lengthy but thanks to anyone who can provide some helpful feed back.

blessings to all

[xmasbaby0]

@doddl If you owe tax it is not because of the stimulus.   It is for some other reason like not having enough tax withheld from your paychecks.

What you may not realize is that as soon as you began to prepare your tax return, the software was giving you the $1400 and it was shown on that "refund monitor" -----but when you entered that you received it already, the software had to reconcile the payment you received,   You cannot get it twice---so it looked to you like you "lost" $1400.   You did not lose it or pay tax on it---you just cannot receive it twice.

[doddl]

thanks for the prompt response.  you are correct - i did not notice the "credit" early on which explains why it was not part of the review process.

for my own personal edification and with all due respect to your reply,  is there a way of confirming without beginning anew? I am curious how I missed it.

thanks again for your time and help as they were most informative

[KrisD15]

No, 

you can delete the Recovery Rebate Credit Worksheet to edit your answer regarding the stimulus payments you did or did not receive, but that will not generate the credit back on line 30.

That credit is only applied at the start of the program before the questions about the payments received are ever asked.