Turbotax is asking if we received 2800 in the first stimulus and 1900 on the second. None of those amounts seems right for 2 adults and 2 children, why?

[Daniro]

Should not the amounts be 3400 and 2400, respectively?

[VolvoGirl]

Where?  I don't think Turbo Tax says the amounts.  You enter the amounts you received in the 2 boxes so it can see if you qualify for more and so it doesn't give it to you again.  How old are the children?  

[VolvoGirl]

I just checked my program.  I see it does guess what you got.  Just say no and the 2 boxes will open so you can enter the amounts you did get.  You must have a high income in 2020 and don't qualify for the full amount.  Good news is you don't have to pay any back.

[DawnC · Accepted solution]

Enter the amounts YOU received.  After you enter the amounts of your 2 payments, TurboTax will let you know if you were due more than that.  If you received less than you should have, you will get the Recovery Rebate on Line 30 of Form 1040.   If you received more than you qualify for, you don't have to pay it back.   But read the questions carefully because TurboTax doesn't tell you what amounts you should enter as they don't know what you received - only you do.  

How do I claim the Recovery Rebate Credit in TurboTax?   Go back through the stimulus questions using these instructions.    And keep in mind, if your AGI is over the limit, the amount of your payments is reduced by $5 for every $100 over the limit.  So, your credit may be a weird amount.  

[Daniro]

Hi. Thanks for the prompt response. On the program it shows a message like:

Based on the Tax info you entered and your combined gross income of xx.xxx$, you and your wife are elegible for the following stimulus payments:

first round: 2900

second round: 1800

Is that what you and your wife received?

My doubt is because for 2 adults the first round was 1200 per adult, so 2x1200=2400 in our case, with 2 children, it was 1200x2=2400 + 500x2=1000, for 3400 total, which we received. The second round same thing.  If I click no, should I put the amount received only for the 2 adults (2400) or for the all family (3400)?

[VolvoGirl]

You enter the amounts you actually got.  If you didn't get one round then enter 0 in the box.

[Daniro]

Thanks for the prompt response.  But is The amount received for the the adults (it specifically asks for the amount received by you and your wife) or the amount received by the all family?

[VolvoGirl]

Enter the full payment you got.  So you got 3400 for the first round?  Enter 3400 in box 1. It's just to see if you qualify more any more.  Looks like it's not counting one of your kids.  Did one turn 17 in 2020?  You only get it for under 17.  But if you already got it you don't have to pay it back.

[VolvoGirl]

You got the checks or deposits right?  It came in your name?  The kids didn't get separate checks with their name on it.  You received it all.

[Daniro]

Again, thanks for the prompt response. Yes, it was a direct deposit, and yes, one became 17 years old on 2020. Thanks

[VolvoGirl · Accepted solution]

Yes that's why it says you should get 2900 & 1800.  The 17 year old doesn't count.  But you already got it for him.  You don't have to pay it back.  If you hadn't got any Stimulus payment you would only get the lower amounts now.  It is really based on your 2020 return.