Recovery Rebate Credit - Where to enter in TT 2020

[JamesG1]

If you have not received your second stimulus check, you will receive your payment in the form of a Rebate Recovery Credit on line 30 of your 2020 Federal tax return when you file.

TurboTax will compare your one or two stimulus payment amounts to the computations within TurboTax.  The computations within TurboTax are based upon the information that you have entered into the tax software.  If you are due an additional amount, it will be issued as a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return.

If you have e-filed your 2020 Federal tax return and the tax return is accepted by the IRS, you will have to amend your 2020 Federal tax return and correct the entries and calculations to receive the Rebate Recovery Credit.

If you have e-filed your 2020 Federal tax return and the tax return is rejected by the IRS, you will have to amend your 2020 Federal tax return and correct the entries and calculations to receive the Rebate Recovery Credit as well as correct the entries that generated the rejection.

In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.

You can access your stimulus check choices by following these steps: 

•  Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Other Tax Situations.
• At the screen Let’s keep going to wrap up.  Click on Let’s keep going.
• At the screen Let’s make sure you got the right stimulus amount, click Continue.
• At the screen Did you get a stimulus payment? you can update your stimulus check entries.

TurboTax will compare your two payment amounts to the computation within TurboTax.  The computations within TurboTax are based upon the information that has been entered into the tax software.  If you are due an additional amount, it will be issued as a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return.

See also this TurboTax Help.

[autismbutterfly]

I received this email and I know I did not say I didn't receive the Recovery Rebate. I even went to my submitted tax forms and looked on 1040 page 2 line 30 and it shows nothing on that line. So why is turbo tax sending me an email saying I did claim a missing rebate?

I'm really confused and do not want to ask for my taxes return to fix something that doesn't need to be fixed. 

Please help explain this to me. Do I need to sit on hold forever to talk to a turbo tax representative or the IRS?

[VolvoGirl]

Thanks for posting that.  They probably sent it out to everybody.  But I would check your return and see if you claimed any extra on 1040 line 30.

[AlanT222]

If you believe that your return is accurate, and you have checked line 30 for accuracy, click the "No, I do not need to review my 2020 return.  Your return will be sent to the IRS on February 12.  

[autismbutterfly]

Line 30 shows nothing for the Recovery Rebate so I should be good and not have to ask for a return and fix correct?

[AlanT222]

If you didn't receive the full amount for your first or second-round stimulus payments, we'll help you claim the Recovery Rebate Credit when you file your taxes this year.

Here’s how:

• When you’re ready to file, we’ll check if you meet eligibility requirements for the stimulus payment. If you meet the requirements, we'll ask a few questions about any payments you've already received and then let you know if the Recovery Rebate Credit applies.
  • If you need to make any changes to your stimulus credit responses, search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.

It’s important that you enter the correct amount of each stimulus payment you received. The first stimulus payments were made between April and September of last year, while the second round of payments were delivered during January and February. You can find the exact amount,

• On your IRS letter-Notice 1444 and/or 1444-B which were mailed to you with the headline, “Your Economic Impact Payment Has Arrived” and were signed by the president. Or,
• By visiting IRS.Gov and creating or accessing your account. Or,
• In your bank statements. You might be able to search your online statements for deposits made by the IRS or US Treasury.

Eligibility rules for the Recovery Rebate Credit

[VolvoGirl]

They probably sent out the same email to cover 2 situations.  They just posted 2 FAQs.  This one may be your situation.

You can call back your return to review it for the Recovery rebate credit if you didn't claim it

https://ttlc.intuit.com/community/tax-topics/help/i-didn-t-claim-the-rrc-how-do-i-review-and-update-...

[autismbutterfly]

Thank you.  The email freaked me out and I knew I said I received both. The email just made me think I did something wrong and that it would take longer to receive my refund. It already took a while to receive the 2nd recovery refund and I didn't want to screw up my taxes for the 1st time in 10 years that I have done them on my own through TurboTax. The email should have said it was sent to everyone who has filed through them.  

[DanielG8s]

I am trying to enter information for the Recovery Rebate Credit, since my wife and I had a child in 2020. Our child's information was entered into TT; however, TT is not recognizing that we are eligible for the child portion of the stimulus checks. I entered the married filing jointly totals and TT is showing that as the correct amount. Is there a way to enter the information for the Line 30 Recovery Rebate Credit? It would be $1,100 give the two stimulus checks totals for a child.

[JamesG1]

If you believe that you are due a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return, then you should: 

• Check the amounts entered for stimulus check 1 and stimulus check 2, and
• Make sure that you have correctly entered your dependent information.

If there is a difference, it is in one or both of these situations.

The TurboTax software adds together the entries that you made for receiving stimulus check 1 and stimulus check 2.

Then the software computes the amount of your stimulus check amounts based upon the information that has been entered into the tax software. 

If you are due an additional amount, it will be issued as a Rebate Recovery Credit (RRC) on line 30 of the 2020 1040 tax return.

In TurboTax Online, you are prompted to input stimulus check 1 and stimulus check 2 information under Review down the left hand side of the screen.

You can also access your stimulus check choices by following these steps: 

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Other Tax Situations.
• At the screen Let’s keep going to wrap up.  Click on Let’s keep going.
• At the screen Let’s make sure you got the right stimulus amount, click Continue.
• At the screen Did you get a stimulus payment? you can update your stimulus check entries.

​​​​​​​​​​​​​​See also this TurboTax Help.

[VolvoGirl]

Did you add your baby under My Info?  Be sure when it asks how long your child lived with you that you pick THE WHOLE YEAR (which is acceptable for newborns) and not just the number of months.  Go back and double check that.

[jeanshu]

If the second $600 wasn't deposited in my bank until Jan 4, 2021 do I show it as 2nd payment on TT 2020

[LenaH]

Yes. You must enter both the first-round and second-round stimulus payments received, even if you received it in January 2021. This will ensure that the calculation of the Recovery Rebate Credit is accurate. 

@jeanshu

[Critter-3]

[Whizkid151]

This is the fourth post I've seen where folks show the Federal Review button and several screens to fix the problem. Unfortunately, my TT2020 Deluxe has no such screens below the Fed Rev button. I just want to enter the check that I received, so it can downstream to my state TT for state income tax.(Yes some states are taxing the Federal money. talk about a left-handed cash grab.