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IRS letter says "you do not have to report 1400.00 stimulus check" but trubotax experts say you do?

In the Turbotax questionnaire, it says "did you receive stimulus money

The IRS sent a letter saying the stimulus money is not considered taxable income and you shouldn't report it as income on taxes, but turbotax experts said you do have to report it. 

So to make this easy, do you answer YES and then put in the 1400.00 amount you got. Or answer no? This is a bit confusing.

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2 Replies
RaifH
Expert Alumni

IRS letter says "you do not have to report 1400.00 stimulus check" but trubotax experts say you do?

Answer "Yes" that you received the stimulus and confirm the amount. It will not be reported as taxable income. TurboTax is asking for the amount you received to ensure you got the full amount you were entitled to. If you did not get the full amount, you would get an additional credit on your 2021 return.

IRS letter says "you do not have to report 1400.00 stimulus check" but trubotax experts say you do?

Short answer:  Answer YES and then put in the amount you got.

 

In my Desktop version, the Help option for this question said the money is not taxable, no matter what you actually got; TT is asking so that if you did not get a big-enough check, TT can generate a special deduction for you to make up the difference.

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