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kjchichi
New Member

I received $0 for first stimulus. Turbo tax is basing my payment I should have received on my 2020 income and not my 2019 income. How do I fix this?

 
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3 Replies

I received $0 for first stimulus. Turbo tax is basing my payment I should have received on my 2020 income and not my 2019 income. How do I fix this?

https://www.irs.gov/newsroom/recovery-rebate-credit-topic-b-eligibility

 

The eligibility requirements are the same for the Recovery Rebate Credit as they were for the Economic Impact Payments except that the credit eligibility and the credit amount are based on your 2020 tax year information. The Economic Impact Payments were based on your 2018 or 2019 tax year information.

kjchichi
New Member

I received $0 for first stimulus. Turbo tax is basing my payment I should have received on my 2020 income and not my 2019 income. How do I fix this?

Correct. I got $0 dollars for the 1st round and was told I can claim it when I do my taxes. This 1st payment was suppose to be based on 2018/2019 tax info. When put 0 in turbo tax for first payment its gives me no credit and tells me this figure is on  your AGI and shows me my current 2020 AGI instead of using my 2019 AGI

I received $0 for first stimulus. Turbo tax is basing my payment I should have received on my 2020 income and not my 2019 income. How do I fix this?

There is nothing to fix about that.   When those first payments were sent out they had to do it in a hurry so they used 2018 or 2019 tax returns.   But the credit was really an advance on your 2020 tax return.   If you did not get the stimulus check and you are filing a 2020 tax return, your 2020 return controls whether you get the credit.  The IRS is not going backwards to 2019 now.   

 

Here is the eligibility criteria to get the recovery rebate credit on your 2020 tax return:

A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:

  • $150,000  if married and filing a joint return
  • $112,500 if filing as  head of household or
  • $75,000  for eligible individuals using any other filing status
    Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above.

You are not eligible for a payment if any of the following apply to you:

  • You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
  • You do not have a Social Security number that is valid for employment.
  • You are a nonresident alien.
    The following are also not eligible: a deceased individual or an estate or trust.

 

 

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 in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”)  If you are eligible it will end up on line 30 of your 2020 Form 1040.

 

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

 

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

 

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

**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.**

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