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All you need to do is start a federal tax return using 2020 TurboTax editions. As you progress through the program entering your information and tax data you will get to the Federal Review section of the program.
In that section you will be asked about the stimulus payments received or not received. Any stimulus payment you were eligible to receive but did not receive will be entered on the Federal Tax Return, Form 1040, on line 30 as a tax credit which will be included in your federal tax refund or will reduce any federal taxes owed.
Note - The 2nd stimulus payment has not yet been included in the calculations for the Recovery Rebate Credit due to the IRS not yet finalizing the calculations on the Form 1040. The Form 1040 is scheduled to be updated sometime today, 01/07/2021. Although this is subject to change.
Hello,
I started filing with turbotax and I wasn't able to find that section. I amended my taxes last year and only recieved partial stimulus payment because of that so I qualify for the rebate credit! When will the software be updated to include this rebate credit?
It's been in both the online version and Desktop programs for over a week now. If you are using the Desktop program you need to update it.
When you go through the federal review tab it will ask how much you got if any. Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus."
After you have entered your tax information and are ready for the Federal Review, it will be the first question.
If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.
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