Recovery Rebate Credit Worksheet

[DoninGA]

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@2merlin1 wrote:

Why is the Rebate Form updated to provide for the $1,400 rebate?

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The third stimulus payment is not covered the Recovery Rebate Credit on a 2020 tax return.  It is received directly from the IRS - https://www.irs.gov/coronavirus/get-my-payment

[sharonhylam]

I filled this out on my 2020 tax return, but there is no record of it in "Tax Home". Where can I see that the recovery rebate credit worksheet has been submitted with my taxes?

[DoninGA]

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@sharonhylam wrote:

I filled this out on my 2020 tax return, but there is no record of it in "Tax Home". Where can I see that the recovery rebate credit worksheet has been submitted with my taxes?

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To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

This will take you back to the 2020 online tax return.

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets

[cjr739]

We already filed 2020tax. On our return the recovery rebate shows one amount, the IRS shows a different amount. Need to see how the work sheet was filled out

[krdarban]

Hi I also have not received stimulus payments 1,2, or 3. I did not work in 2019 or 2020. I recently filed my 2020 tax return using turbo tax and after I answered questions and filled out the section regarding 2020 recovery rebate on line 30. It filled out that I am only getting $1800 back on my return. Shouldn't it have been filled out for $3600 for all three stimulus payments? I am wondering if this was an error with turbo tax software or it is supposed to look like this? Please let me know if I need to amend this return to fix this error or if this is correct. 

[DoninGA]

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@krdarban wrote:

Hi I also have not received stimulus payments 1,2, or 3. I did not work in 2019 or 2020. I recently filed my 2020 tax return using turbo tax and after I answered questions and filled out the section regarding 2020 recovery rebate on line 30. It filled out that I am only getting $1800 back on my return. Shouldn't it have been filled out for $3600 for all three stimulus payments? I am wondering if this was an error with turbo tax software or it is supposed to look like this? Please let me know if I need to amend this return to fix this error or if this is correct. 

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The third stimulus payment is not part of the 2020 federal tax return.  The third stimulus is $1,400.

That is sent directly from the IRS - https://www.irs.gov/coronavirus/get-my-payment-frequently-asked-questions#payment

[RICKinPA]

This is confusing...

The THIRD Stimulus amounts are NOT done being sent out yet.

(As of last I heard around 3/30/2021.)

There are categories of people where they are apparently far behind. (SSA, etc.)

I've read they will continue to sent those (and other) 3rd payments throughout

2021, until they finish.

THE THIRD Stimulus payment is NOT to be included in the reporting for TY2020.

If it never comes, because here is no real way to correct SOME THINGS at the IRS

at the moment, it will more than likely be hashed out as a tax credit NEXT year

on the TY 2021 forms. (Unless they figure out a better plan.)

I hope I am wrong because they screwed mine up royally. (Twice.)

[NCperson]

@RICKinPA - everything you state is the same as I understand it.

remember that the 3rd stimulus is an 'advance against 2021' so it HAS TO BE hashed out on the 2021 tax return - that is the way the law was passed by Congress. 

[krdarban]

That went right over my head somehow. thank you for clearing that up

[niushop]

I followed your instruction to "jump to Stimulus" in the Search and it brought me to the Federal return review, but I went through the end of the review without seeing the stimulus / recovery rebate credit question. Does my Turbo software have a glitch or something wrong?

[NCperson]

@niushop - how high is your income?  if your income exceeds the limits to be eligible, TT will not present those forms to you....

[rstafford288]

i'm not using turbo tax online. i bought the cd

[gloriah5200]

Yes, both versions of TurboTax will correctly complete the Recovery Rebate Credit Worksheet and file for the credit with your return for you.  It will ask you if you received the first stimulus check and how much you received and will also ask if you received the second check and how much it was.  Then, it will use that information to calculate with your 2020 return the amount you were entitled to get and give you that amount in your refund.  IRS will also use the 2019 or 2020 return to determine your third stimulus check you are entitled to get if you did not get one.

The Recovery Rebate Credit Worksheet in the 2020 Form 1040 and Form 1040-SR instructions can also help determine if you are eligible for the credit and how much you can claim.

You will need the amount of any first and second Economic Impact Payments you received to calculate your 2020 Recovery Rebate Credit amount using the RRC Worksheet or tax preparation software.

Find the amount of your first and second Economic Impact Payments:

• View Your Online Account – Securely access your individual tax information with an IRS online account including your first and second Economic Impact Payment amount.

• IRS letters – IRS mailed Notice 1444 for the first Economic Impact Payment, and we are mailing Notice 1444-B for the second Economic Impact Payment to the address we have on file. 

Refer to this information when you complete your 2020 tax return. If you're eligible for the 2020 Recovery Rebate Credit, you will use the information in your tax preparation software or on the 2020 Recovery Rebate Credit Worksheet to calculate your credit amount.

Any first and second Economic Impact Payments we issued to you will reduce the amount of 2020 Recovery Rebate Credit you are eligible for.

[JnOviedo]

I tried 4 or 5 different recommendations, here is community and FAQ, for the Recovery Rebate none matched my TurboTax. I even started from scratch and still no Covid Recovery Rebate questions ever came up. So do I not qualify based on my other info? I did not get a penny back in any stimulus check. Family, friends, and neighbors all got something on the Recovery Rebate for COVID. Not sure why I cannot get it to come up. What I do know is when I started from scratch, it took 2 hours with everything at hand! So having me do that again is not the answer. Can someone point me to a website, maybe HandR Block, that can use some sort of calculator to see if I would even get any additional money on Taxes?

[DoninGA]

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@JnOviedo wrote:

I tried 4 or 5 different recommendations, here is community and FAQ, for the Recovery Rebate none matched my TurboTax. I even started from scratch and still no Covid Recovery Rebate questions ever came up. So do I not qualify based on my other info? I did not get a penny back in any stimulus check. Family, friends, and neighbors all got something on the Recovery Rebate for COVID. Not sure why I cannot get it to come up. What I do know is when I started from scratch, it took 2 hours with everything at hand! So having me do that again is not the answer. Can someone point me to a website, maybe HandR Block, that can use some sort of calculator to see if I would even get any additional money on Taxes?

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There are only two reasons the questions for the Recovery Rebate Credit will not be asked in the Federal Review section of the TurboTax program.

1.  You indicated on your tax return that you can be claimed as a dependent.

2.  Your 2020 Adjusted Gross Income (AGI) is over the amount to be eligible for the credit based on your filing status -

Your credit amount will be reduced if your adjusted gross income (AGI) is more than: 

• $150,000 if married and filing a joint return or filing as a qualifying widow or widower
• $112,500 if filing as head of household or
• $75,000 for eligible individuals filing as a single or as married filing separately.