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Level 2

Question

No income. Why return third stimulus payment?

Forum|Forum|2 years ago
November 18, 2023
8 replies
43 views

I am amending 2021 1040 with TurboTax desktop. I originally received the third stimulus of $1,400.

In both original filing and amended, I had zero income from all sources. My original AGI was 0 and my amended AGI is negative $23,000. I'm even carrying a capital loss, and had no capital gains whatsoever.

With amendment, TurboTax concludes that I must return the $1,400 stimulus!

Why? What am I doing wrong?

Level 15

Why are you amending the 2021 tax return if you had no income from any source in 2021? The EIP3 does not have to be returned if you were not a dependent on someone else's tax return in 2021.

amend20201Author

Level 2

I have a startup business in an SMLLC that I intend to close. It has accumulated NOLs, and has never made revenue. I need to file amendments to stay current in order to close the LLC.

Level 15

You should not be completing the Recovery Rebate Credit section of the amended return since you have already received EIP3.