Third Economic Impact Payment Married filling jointly

[Hunkart]

Hello,

I am filling my tax - married filling jointly.  Third economic impact payment, we got $2100 for each of us. Also We got own letters from IRS which is same amount $2100 for each of us.

While I am doing my tax, looks like we are eligible to get $2800. I am able to enter paid amount- $2100- for one of us and it s giving $700 credit to my tax. 

My question is: is there any way to enter difference for both of us? or Should i expect only one of us can get $700 credit?

Other way to ask, both we got $4200 and looks like we are eligible to $5600, difference is 1400 but i do get credit only $700.

[xmasbaby0 · Accepted solution]

It sounds like you already received the 3rd EIP payment for yourselves and one dependent.   3 x $1400 = $4200 and do does 2 x $2100.   You cannot get the 3rd EIP again.   You must enter that you each received $2100.

When you enter the amounts you already received that should leave line 30 of your Form 1040 blank---and it should be blank unless you had a baby or added some other dependent during 2021.

[LenaH]

As stated by @xmasbaby0, the only way to populate the Recovery Rebate Credit on your return is by entering the amount you both received as per Letter 6475 from the IRS. You cannot enter the difference.

TurboTax will calculate what you were eligible to receive. What you are eligible for is based on your 2021 income. Then, TurboTax will deduct the amount received and the remainder will flow to Line 30 of your 1040 as the Recovery Rebate Credit. 

If you would like to see whether or not the Recovery Rebate Credit is on your return and the amount of the credit, please follow these steps:

1. Open your return.
2. Click on Tax Tools on the left hand side.
3. Click on Tools.
4. Click on View Tax Summary.
5. Click on Preview my 1040 on the left hand side.
6. Look at your 1040, page 2, Line 30. 

Generally, someone was eligible for the full amount of the third Economic Impact Payment if they:

• are a U.S. citizen or U.S. resident alien (and their spouse if filing a joint return), and
• are not a dependent of another taxpayer, and
• had adjusted gross income (AGI) that is not more than:
  • $150,000 if married and filing a joint return or if filing as a qualifying widow or widower
  • $112,500 if filing as head of household or
  • $75,000 for any other filing status

Payments were phased out – or reduced – above those AGI amounts. This means people did not receive a payment if their AGI was at least:

• $160,000 if married and filing a joint return or if filing as a qualifying widow or widower
• $120,000 if filing as head of household
• $80,000 for any other filing status

@Hunkart

[Hunkart]

Thanks for the reply. i understood but in Turbo tax in Federal review section says that our adjusted gross income amount $xxxxx  myself and my wife are eligible $2800 and i can enter an amount shows in IRS letter $2100. After entry Turbo tax shows $700 credit for us. IS this correct? again each of us received letter from IRS with that shows $2100 paid in 2021.

[DoninGA]

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@Hunkart wrote:

Thanks for the reply. i understood but in Turbo tax in Federal review section says that our adjusted gross income amount $xxxxx  myself and my wife are eligible $2800 and i can enter an amount shows in IRS letter $2100. After entry Turbo tax shows $700 credit for us. IS this correct? again each of us received letter from IRS with that shows $2100 paid in 2021.

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If the TurboTax section in Federal Review states you are eligible for $2,800 then your dependent is not being recognized by the software for being eligible.  The page should read you are eligible for $4,200

Go back to My Info and review all the questions for your dependent.  If everything is correct then delete the dependent and re-enter.

The stimulus section under Federal Review should now indicate $4.200.