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I received the 3rd stimulus check for $1400 in 2021. Turbotax asks the question if I received it and when I enter the amount my tax due increases - I thought this was not considered income?
What you may not realize is that as soon as you began to prepare your tax return, the software was giving you the $1400 and it was shown on that "refund monitor" -----but when you entered that you received it already, the software had to reconcile the payment you received, You cannot get it twice---so it looked to you like you "lost" $1400. You did not lose it and you are not being taxed on it---you just cannot receive it twice.
I am in a similar situation. I want to adjust my answer when I do the jump to method it just takes me to the review and does not give me the option to change it.
Please note that this page will not appear if your income is above the limits of the Recovery Rebate Credit. Those limits are:
It did not ask me whether we received the 2021 Stimulus payment
@patcharlton9 wrote:
It did not ask me whether we received the 2021 Stimulus payment
After you complete the Wages & Income section, the Deductions & Credits section and the Other Tax Situations section, the stimulus question will be asked in Federal Review.
There are only two reasons the question for receiving the 3rd stimulus payment would not be presented -
1. You are being claimed as a dependent (or)
2. Your 2021 Adjusted Gross Income is over the maximum to receive the Recovery Rebate Credit
• Single or married filing separately—$80,000
• Married filing jointly or qualifying widow(er)—$160,000
• Head of household—$120,000
You keep the 3rd stimulus payment you received, it does not have to be repaid.
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