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How do I delete a claimed credit, before filing my return?

 
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4 Replies

How do I delete a claimed credit, before filing my return?

Which credit?  Why don't you qualify for it?  Is it for the 1200 Recovery rebate credit?  Did you already get it?

 

The Stimulus Checks are really based on your 2020 return we are filing in 2021.  So any amount you already got will be reconciled on your 2020 return line 30.  If you didn't get a Stimulus Check (and qualify) or you qualify for more it will be added to your 2020 return.  But the good news is if they paid you too much they won't take it back.

 

There will be a screen with 2 boxes for each round.  If you didn't get one enter a 0 in the box.

 

When you go through the federal review tab it will ask how much you got if any.  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.

 

The Recovery rebate credit is on 1040 line 30.  It either adds to your refund or reduced a tax due.

How do I delete a claimed credit, before filing my return?

No, it's a credit for having to take time off of self-employment due to COVID; the refund for that would only be $34 but it precludes me from being able to file my taxes electronically, so I'd rather not take the $34 for the convenience of filing electronically. I can see where to edit that section, but even when I change my answer to "no", it doesn't change it on my return.

How do I delete a claimed credit, before filing my return?

No, it's a credit for having to take time off of self-employment due to COVID; the refund for that would only be $34 but it precludes me from being able to file my taxes electronically, so I'd rather not take the $34 for the convenience of filing electronically. I can see where to edit that section, but even when I change my answer to "no", it doesn't change it on my return.

SamS1
Expert Alumni

How do I delete a claimed credit, before filing my return?

Try reviewing your forms in TurboTax and deleting the Form 7202. While in your return in TurboTax:

 

  • In the left hand column select "Tax Tools"
  • Select "Tools"
  • Select "Delete a form"
  • Review for form 7202
  • Delete selected form then "Back"
  • Run your Federal review again.

 

If that doesnt help, you may need to delete your Sch C business schedule and re-enter it.

 

 

 

 

 

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