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Level 2
March 13, 2021
Question

Recovery Rebate Credit

  • March 13, 2021
  • 1 reply
  • 0 views

Just saw a pending deposit for the Third Stimulus and they used our 2019 filing. Will there be a recovery rebate for the third stimulus payment ? We had a child in 2020 but when doing our 2020 taxes in turbo tax I only see options for the first two stimulus for the recovery rebate to claim. Thinking of waiting to file or will the third stimulus recovery credit be used in 2021 taxes filing in 2022.

    1 reply

    Level 15
    March 13, 2021

    The third stimulus payment will be calculated based on your 2020 tax return.

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    rjay3220Author
    Level 2
    March 13, 2021

    I haven't filed my 2020 taxes yet. 

    Employee Tax Expert
    March 13, 2021

    Your stimulus payment will be calculated based upon the latest tax return filed, or in your case, your 2019 tax return.

     

     Please see the link below for more guidance as it relates the third stimulus payment.

     

    IRS information on third stimulus payment

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