Third Stimulas

[SchafferJ]

Will Turbo Tax be updated foe 2020 taxes to include the third stimulus amount like the 1st and 2nd for people who did not receive those checks due to their 2019 Adjusted Gross Income being to high, but now qualifying with a lower 2020 Adjusted Gross Income?  If yes, when will those updates for Turbo Tax be available? 

[MinhT1]

Please read this TurboTax Help topic on the third stimulus.

This is the most up-to-date information we have. TurboTax will update their customers on a regular basis.

[SchafferJ]

Will a person be able to obtain the 3rd stimulus with 2020 Turbo Tax?

[ThomasM125]

The third stimulus payment will likely be based on entries on your 2020 tax return if you filed one and the IRS has processed it. Otherwise, it may be based on your 2019 or even 2018 tax return. The IRS has not released specific information yet on how the payment will be determined.

So, if you filed or will file your tax return through TurboTax, it may enable you to obtain your 3rd. stimulus check. 

[zee9]

@ThomasM125 @MinhT1 
I filed 2020 tax on March 14th  and was accepted on March 15th. Today (17th March) I received third stimulus payment based on 2019 taxes which is way lower than I expected because my AGI for 2019 was higher. Will I get the remaining payment for third stimulus check - once 2020 taxes are updated in IRS system?

[HelenC12]

@zee9

At this time, we are waiting for the IRS to provide us additional information on how Americans will receive the missing or wrong amount third stimulus checks. 

To be eligible for the third stimulus, you need to meet the following requirements: 

• Families earning less than $150,000 a year and individuals earning less than $75,000 a year should get the full $1,400 per person.
• Families earning up to $160,000 per year and individuals earning up to $80,000 per year will receive prorated amounts.
• One notable difference from the first two stimulus is that you will receive stimulus payments for all your dependents, including adult dependents and college students.