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You enter dependents in the My Info section of the program. Click on My Info on the left side of the online program screen.
For a child born in 2020 make sure that you indicated they lived in your home for the whole year.
Same situation here for a family member (had a baby in April 2020), and when we used the new stimulus calculation page in the TurboTax program, it told us they received the right amount and no more was owed. Anyone know if there will be an update to the program to fix this, or should we file some kind of ticket with customer service?
TurboTax is computing the stimulus payments correctly at this time and will add amounts for a child born in 2020 as a credit on the 2020 return.
@dianehomrich If you are not seeing an additional credit for a baby born in 2020, double check the amount you entered as first- and second-round stimulus payments. These should be amounts you actually received. Did you enter the correct amounts?
As @DoninGA mentioned, double check the information for the baby to make sure all the questions are answered correctly.
The stimulus also has income limits. The payments that were sent out were based on 2018 or 2019 income tax returns, but are “reconciled” with 2020 income. Some taxpayers received payments even though their 2020 income was actually too high to get a stimulus since the IRS does not have 2020 income information. If that is why you are not seeing an additional stimulus in TurboTax, don’t worry, the IRS won’t make you pay it back. The payments phase out for married couples making more than $150,000, for head of household filers making more than $112,500 and for single filers earning more than $75,000.
Did you add the baby under My Info? Be sure when it asks how long your child lived with you that you pick THE WHOLE YEAR (which is acceptable for newborns) and not just the number of months. Go back and double check that.
Thank you for the additional reponse! We entered the baby as a new dependent, marked "whole year" for the support, and entered the correctly-received stimulus amounts (full amounts for both parents, both stimulus 1 and 2; no stimulus amount for the baby paid yet of course). Income would not be enough to disqualify them from the additional amount due from the IRS for the child, but the TurboTax program analyzes the inputs for the stimulus payments and says they are correct and no amount is due (i.e. the amounts that would be receivable for the child, i.e. $500 and $600 respectively for the two stimulus payments).
Does your reponse mean that TurboTax SHOULD be computing the stimulus correctly at this time, even though it is not for us? How can we resolve this? We installed updates yesterday for the program, but it still gives the same result -- no more stimulus recovery rebate due.
Yes! Did all that. Also installed updates to TurboTax. Still no change -- it does not calculate the stimulus amount owed for the child.
@dianehomrich wrote:
Yes! Did all that. Also installed updates to TurboTax. Still no change -- it does not calculate the stimulus amount owed for the child.
Then you must have answered one of the dependent questions incorrectly.
I entered a dependent on my 2020 Premier desktop edition with a birthdate in 2020 and received both stimulus payments for the child on the Form 1040 Line 30.
Go back to My Info and check all your answers carefully for the dependent. Make sure you selected Your Child, the date of birth in 2020 is correct, the child lived in your home for the Whole Year since he was born in 2020, that the child did NOT provide over one-half of their own support, that there was NOT another person supporting the child in your household and the child has a valid Social Security number.
If the answers are correct then delete the dependent and re-enter.
Nothing is on 1040 line 30 for it? Maybe you didn't notice it was already included. Turbo Tax starts out by giving you the full amount. Then near the end you enter what you already got so it only gives you any difference.
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