Back in Mar of 2020 I filled out a Non Filer Form here on TurboTax to get the $1200 Stimulus Check. I didn't have a job in 2019 so I had no income which is why I used the Non Filer Form. I also got the $600 which was based off my 2019 Tax Returns. The upcoming $1400 Stimulus Check looks like its going to pass, but I'm not sure if its going to be based off my 2019 Tax Return or 2020 Tax Returns.
First off I'm wondering should I be proactive and file a 2020 Tax Return right now with $0 income or wait? Waiting could also be risky too because what if they wait till after taxes are due to approve the $1400.
Second is that TurboTax and all other tax software won't let you e file with $0 in your income. I was able to do it back in 2020 for my 2019 Tax Returns because TurboTax and the IRS had a special form that allowed you to put $0 and e file, but that tool is now gone. To e file my 2020 Tax Returns I have to use the regular Tax Form and if you put $0 on everything and you get to the Review section it tells you that you can't e file with $0 income. I googled and found out that you can put $1 into the Income Form 1099-INT section and it will let you e file because now it said you have $1 in the income section. It does work, but I was wondering is this okay like is it okay to put $1 into the Income Form 1099-INT section even though you have $0 income so that you can e file? I haven't e filed yet, I'm at the final section before you e file, but I'm worried if this is illegal or if I'll get into any trouble. My 2019 Tax Return did have a $1 in this section.
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You should file a return now. TurboTax will walk you through the stimulus payments that are intended to be reconciled on the 2020 tax return. They used 2019 to determine the payments to send, with the intention of reconciliation on the 2020 return.
Yes, you can proceed by putting $1 of interest income. It's not a problem because this would not require you to file and would not produce any kind of tax liability or change your tax return results in any way.
Thank you for the answer. I just filed with $1 in the 1099 INT section and it went through. I wanted to just cover my bases in case they take months to pass the next Stimulus Check and decide to use 2020 instead. Remember how long it took just to pass $600 lol.
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