i have done m y taxes with you for the last 2 years i am told by the IRS that i have to claim my 600.00 when i file my return is that ava. as of yet///
That will be available as soon as the 2020 tax returns are able to be accepted for e-filing. Although a specific date has not yet been given, the last several years e-filing began at the end of January, and this year will likely not be different. Anyone who does not receive the stimulus payment automatically and otherwise qualifies will be able to claim it as part of their 2020 refund when they file their tax return.
As part of the tax filing process, TurboTax sends the appropriate banking information to the IRS to deliver stimulus payments directly to customer bank accounts. The IRS will issue payments using the most recent information they have on file, likely from your 2019 tax return, either by direct deposit or by check.
If you did not receive a stimulus, you will need to contact the IRS for next steps. Please know that the IRS will make updates to the Get My Payment portal to provide updated information for taxpayers, you will be able to see updates about your payment there.
For more information, visit this IRS news release.
look at the 'federal review' section Turbo Tax where it asks about what stimulus payments you have received.
Then, your credit will be displayed on Line 30 of Form 1040, which will increase your refund (or reduce what you owe)
The entry for line 30 now seems to contain both payments. My program was updated this morning.
@Opus 17 - please confirm whether that is online or desktop. I have desktop and can confirm it is working...other posts note that online is not operational currently.
FYI - I updated my Desktop program. I haven't entered all my income yet so I expected to see the full amount. I only got some for the first Stimulus. BUT it didn't give me any. YOU HAVE TO ENTER A 0 ZERO IF YOU DIDN'T GET ONE. You can't leave it blank. I went back and put 0 for the second one and then it gave me the full amount qualified for both.
And those 2 questions on the worksheet lines 3 & 4 about military and ssn are kind of confusing.
@VolvoGirl - did you get an error of any sort for leaving it blank? I would hope so which will force everyone who has been filling out their tax form to be required to go back and fix the EIP section.
can we try and force the form to ask about child support on the 1st payment - that is the way the IRS form is created in the IRS instructions but TT wasn't asking about it originally and that can lead to problems.
I didn't get an error and don't know if it would. I had switched to Forms to see line 30 and there was nothing on it so I opened the Recovery Worksheet and the second one was pink/red for needing to be filled in. So I went back to the questions and entered an actual zero. Then it said Congratulations with the Total in green.
@NCperson wrote:
@VolvoGirl - did you get an error of any sort for leaving it blank? I would hope so which will force everyone who has been filling out their tax form to be required to go back and fix the EIP section.
In forms mode, the fields are yellow, which generally means they are mandatory. I can't take the time to carry a fake return all the way to the final federal review to do an error check.
On the EIP screen it only asks for the payment amount. At the blue link for "Where can I find my payment amount" it advises to check your 1444 statement, check your bank account, or check the IRS web site. It does not mention garnishments.
I think not asking about garnishments for Stim #1 is a problem - it asked for the EXACT amount received and doesn't make mention of adjusting if there was a garnishment; I beleive that will cause TT to give you back all the money that was garnished.
how does that feedback get to the Lounge or an Administrator?
@NCperson wrote:
I think not asking about garnishments for Stim #1 is a problem - it asked for the EXACT amount received and doesn't make mention of adjusting if there was a garnishment; I beleive that will cause TT to give you back all the money that was garnished.
how does that feedback get to the Lounge or an Administrator?
I already posted it privately, it may not happen. The program quality people are notoriously conservative, and I think that since option 1 is check your 1444 and option 3 is check the IRS web site, both of which should show the ungarnished amount, they may consider that good enough. (Further, I suspect that not having the correct amount will cause an efile rejection.)
thanks
but the wording does ask for the 'exact' amount of the payment.
@NCperson The Recovery Rebate Credit Worksheet on Line 16 is specific - Enter the amount, if any, of EIP 1 that was issued to you (before offset for any past-due child support payment)
TurboTax should use the same verbiage. Hopefully it will get changed.
Duh, I was making a screen shot and just noticed that the screen does say to enter 0 if you didn't get it. But it's good to know. Do you think users will miss it and not enter it?
@VolvoGirl - that is why I asked if it created an error for leaving it blank, which they all are as the new software is introduced.... if the field is left blank (hence the error), as long as that causes TT to send the user to fix it, then all will be required fix it and no one will miss it. see where I am going?
This thread seems to be a good one to use for questions since I don't have access to the back room. Just testing in my program. One scenario,
If you got the the first 2,400 but not the 500 for child so it s/b 2,900.
But then made too much in 2020 to get any or a reduced amount (say $300)
You don't get the extra 500 for the first one and nothing for the second because you already got 2,400.
So first and second are cumulative?
You actually got 2,100 too much, right?
Is the 300 on worksheet line 15 the total qualified for both or just the second one?
The online in now working but I agree this is a disaster waiting to happen ... I can hear the swearing from the users already as there returns are delayed and corrected due to the misunderstanding on the stimulus screen instructions ... the IRS line 30 worksheet LINE 16 clearly says to enter the payment BEFORE OFFSETS. This may not be the amount the notice 1444 or 1444-B has listed ...
Enter the amount, if any, of EIP 1 that was issued to you (before offset for any past-due child support payment).
You may refer to Notice 1444 or your tax account information at IRS.gov/Account for the amount to
enter here
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf
If history has told us in the past you cannot expect any TT user to READ the fine print at all ... and to have incorrect info on the main page AND the "learn more" links is just plain SAD.
Who proof reads this before putting it in service ??? Obviously they don't ask any of us regular posters on this forum as this is something we would have pointed out quickly .... I hope the moderators take heed of this warning and run this issue up the chain ASAP before anything can be efiled incorrectly.
@Critter-3 - suggest all of the 'champs' "bang the table" to get the wording changed. It's a really bad customer experience as the wording specifically states to enter "the exact amount" - and it will have the effect of increased the expected refund...whether the IRS catches it prior to issuing the refund or comes back months later after reviewing, it'll be a really bad customer experience that Intuit can "nip in the bud" NOW.
@VolvoGirl - let me repost your thread and explain
If you got the the first 2,400 but not the 500 for child so it s/b 2,900.
But then made too much in 2020 to get any or a reduced amount (say $300)
You don't get the extra 500 for the first one and nothing for the second because you already got 2,400.
So first and second are cumulative?
You actually got 2,100 too much, right?
since you didn't list the income I really can't work through this , but there is no such thing as 'too much' as Congress said no one was going to be asked to return money.
Let me try a different example:
2018 income $80,000. joint, 1 child
2019 income $75,000 joint 1 child
2020 income $160,000, joint 2 children (one born in 2020)
For the first stimulus payment, the IRS used my 2018 tax return, and I received $2900
for the 2nd stimulus payment, the IRS used my 2019 tax return and I received $1200 - IRS couldn't explain why they left off my child. The new born isn't the child left off because Baby wasn't on my 2019 tax return,
For my 2020 tax return, here is how EIP is calculated:
I received $4100 from the Payments and I am eligible for $4800 in EIP. Line 30 should display $700....
I worked this out against the worksheet in the 1040 instructions
Line 5 - $2400
Line 6 - $1000
line 7 - $3400
line 8 - $1200
line 9- $1200
line 10 - $2400
line 11 $160,000
line 12 - $150,000
line 13 - $10,000
line 14 - $500
line 15 - $2900
line 16 - $2900
line 17 - -0-
line 18 - $1900
line 19 - $1200
line 20 - $700
line 21 - $700