Hi There,
I got $2900(1st stimulous round) and $1800(2nd stimulous round), and my 2nd baby was born Aug, 2019.
And I got third stimulous check including 2nd baby.
BUT 1st&2nd stimulous does NOT consider my 2nd baby.
Your Turbotax just is asking if receiving this wrong money, and when I set "YES", it says I am not eligible for Recovery Rebate Credit. Then how to request Recovery Rebate Credit with right money(1st: 3400, 2nd:2400)?
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Maybe you misunderstood what you were supposed to do to answer the recovery rebate questions. You enter the total amount that you DID receive for the checks that were issued in 2020 or early 2021. If your children are entered correctly as your dependents on the tax return, the software will put any additional stimulus money onto line 30 of your tax return. You do not "request" how much you think they should put there----you let the software do that for you.
Read the questions very carefully. When it asks how much you received, enter the amount you received---not the amount you "think" you should have gotten.
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://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.
Thank you for this reply, But I am not clear still.
How to Turbotax gets these wrong stimulous check money? so as your idea that this money is not wrong even I put right child and dependent info? I set "YES" as I received it, then finally Recovery rebate credit is 0 on tax returns.
Did you mean that even if Recovery Rebate Credit is 0, FEDERAL REVIEW section will check it and if I got wrong stimulous check, then IRS will give additional money for 2nd baby?
Please, let me clear this point, thank you in advance.
On the screen where it says "Let's double check the amount you received" it shows how much you should have received based on the information you entered on your tax return--including the dependents you are claiming. If the amount they show you is the amount you really received you answer YES. If you actually received less than that amount you answer NO.
And----do understand that you do not get stimulus money for a child who was over the age of 16 in 2020, or a child who did not have a Social Security number. Your stimulus amount is also limited by your own income.
The criteria to receive the recovery rebate per the IRS:
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:
You are not eligible for a payment if any of the following apply to you:
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