You'll need to sign in or create an account to connect with an expert.
TurboTax should have asked you about your first two stimulus checks (including the one that went out around Jan. 1) just before finishing your return if you've made it there. If you didn't enter them in TurboTax & your refund was overstated by the amounts of those checks (i.e., $1200 EIP1 + $600 EIP2 for most single taxpayers), the IRS will likely correct it as a simple clerical error without your having to amend your return.
NONE of the three stimulus checks (President Biden just signed the third one into law today) are taxable. However, you're supposed to enter the first two into TurboTax for 2020 so it can properly compute the Recovery Rebate Credit (RRC), or the backup plan for the first two stimulus checks. (The RRC will return on 2021 returns next year as the backup plan for the third stimulus check at a minimum.)
Do you mean 2020? There were no payments to report in 2019. As long as you have not filed your return, you can go back in and add the stimulus payments that you received by following the instructions here. You enter the payment received in the Recovery Rebate section.
If you didn't receive the full amount for your first or second-round stimulus payments, we'll help you claim the Recovery Rebate Credit when you file your taxes this year. If you received the full amount you qualified for, there will be no credit claimed.
TurboTax should have asked you about your first two stimulus checks (including the one that went out around Jan. 1) just before finishing your return if you've made it there. If you didn't enter them in TurboTax & your refund was overstated by the amounts of those checks (i.e., $1200 EIP1 + $600 EIP2 for most single taxpayers), the IRS will likely correct it as a simple clerical error without your having to amend your return.
NONE of the three stimulus checks (President Biden just signed the third one into law today) are taxable. However, you're supposed to enter the first two into TurboTax for 2020 so it can properly compute the Recovery Rebate Credit (RRC), or the backup plan for the first two stimulus checks. (The RRC will return on 2021 returns next year as the backup plan for the third stimulus check at a minimum.)
thank you. You were right I got the money in 2020. When I asked the question I did not reach the part where they talked about the recovery rebate refund. thanks again!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Zaatar
New Member
pdon-musicfan
New Member
drddahlenburg
New Member
cher002
New Member
Hawk128
New Member