I did not receive the first or second stimulus rebate since the IRS is looking at my 2018 tax return. However, I did qualify for both base off of 2019 tax return and will qualify for both based off of 2020 tax return. This means I should have received $2400 from the first stimulus rebate and $1200 from the second rebate since I file Married filing jointly. Will turbotax be able to handle both when I file in 2020
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@BFB1 wrote:
I'm assuming the program will be updated because the one I have loaded only asked about the $2400 one
All the TurboTax editions have been updated to include the first and second stimulus payments.
If you are using the TurboTax desktop editions make sure the software is updated. Click on Online and then on Check for Updates.
If you are using the TurboTax online editions, close the window and access the account again. Sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
If the page is still not showing both payments, clear cache and cookies on your web browser and sign back onto the account.
If you do not receive any other stimulus payments by January 15, 2021, then the stimulus payment for which you are eligible to receive will be entered on your 2020 federal tax return as a tax credit on Form 1040 Line 30.
The TurboTax program will ask about stimulus payments in the Federal Review section of the program.
I'm assuming the program will be updated because the one I have loaded only asked about the $2400 one
@BFB1 wrote:
I'm assuming the program will be updated because the one I have loaded only asked about the $2400 one
All the TurboTax editions have been updated to include the first and second stimulus payments.
If you are using the TurboTax desktop editions make sure the software is updated. Click on Online and then on Check for Updates.
If you are using the TurboTax online editions, close the window and access the account again. Sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/
If the page is still not showing both payments, clear cache and cookies on your web browser and sign back onto the account.
I did not get the $10200 forgiveness for my taxes I paid on my federal.
At this time, we are waiting for information from the IRS on how to handle the $10,200 unemployment. Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment.
As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for households with annual incomes less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.
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