I have a family of 4 and we file jointly. The first stimulus was $2,900 instead of $3,400. The second stimulus was $1,800 instead of $2,400. How do I get the difference?

[oscarbholcombe]

When starting my 2020 tax's I found the second that asked about how much money we received for stimulus.  I assumed it only meant for the first check and put $2,900 in for the amount and it said that the amount looked right.  My family does not make for the 75,00 a year how can that be right?  I'm trying to find out how I get the additional money from both stimulus checks.

[xmasbaby0]

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-...

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

We know that the IRS is already revising the 2020 Form 1040 to include the 2nd stimulus, but that change will entail a lot of re-programing at the IRS and for the tax software programs.  It may be at least a month — or longer— before the forms are changed.  Do NOT be in a hurry to file your 2020 tax return until more is known. Give some extra time to the IRS and the software programmers so that the software can handle the new 2nd stimulus, so that you can get it all by filing ONE time. You will need to visit the recovery rebate section AFTER the form and software revisions are complete in order to do this correctly. It is never a good idea to file too early; filing your 2020 return too soon may result in a lot of extra confusion that can be avoided if you wait and file a little later.

[bluedeb]

Were any of your children over 16?

[xmasbaby0]

@bluedeb @oscarbholcombe 

Good point.  You cannot receive stimulus money for a child who is older than 16.  They use the same rule for the child tax credit.   If your child turned 17 at any time in 2020 then you do not receive CTC or stimulus for the child.

[oscarbholcombe]

One child is 9 the other is 5.

[NCperson · Accepted solution]

@oscarbholcombe - sounds like there is something incorrect with the setup of the children.  Please go into the MyInfo section and review everything very closely.  birthdate? social security number? they do NOT provide more than 50% of their own support? lived with you all year? check everything closely..... I suspect you are going to find something amiss. Compare one child to the other - is it all the same (other than SS# and birthdate and name?) 

you otherwise set this up correctly.  

[NCperson]

also, suggest 'faking' out turbo tax and temporarily change the 1st stimulus payment to $1000 - how much does your refund go up? it will give us a clue on where the problem is. 

[oscarbholcombe]

I went back and check and my youngest daughter had that she had only lived with us 4 months which is wrong should have been 12 months (full year), not the calculator is showing the 500 I was missing for the first stimulus.

I'm assuming the tax software needs to be updated before it can fix the second stimulus check.

[NCperson]

@oscarbholcombe - yes, the software needs to be updated, suggest checking every Thursday morning and do not rush to file - be sure it's updated before doing so!