I received a Notice # 1444-B from IRS indicating that I was entitled to $293.90 from the second stimulus payment and they reflected I did not receive it. Upon calling them they indicated that I should claim it as a credit on line 30 of the 2020 1040. I have tried to enter that amount in my Turbotax system and it continues to refect 0. How can I receive that credit?
The 2020 tax return controls the rebate. If the IRS issued a payment based on your 2019 information, but you are not eligible based on your 2020 information, then you can't claim anything on your 2020 return. However, if the IRS did issue a payment, and you did not receive it, you can try tracing it.
See the "payment lost" questions and answers here. https://www.irs.gov/coronavirus/second-eip-faqs#paymentlost
For a single person, your 2020 income must be less than $75,000 to qualify for the full amount, and the credit phases out completely at income of $87,000.
The amount you have to enter in order for the Recovery Rebate Credit to populate is $0 for the second stimulus payment, not $293.90.
Please follow the steps to enter the correct information:
- With your return open, search for stimulus with the magnifying glass tool on the top of the page.
- Select the Jump to Stimulus in the search results to directly go to correct TurboTax page.
- On the page titled Let's double-check the amount you received, mark No.
- Enter $0 in the box under Enter your total second-round payment.
This should populate your Recovery Rebate Credit on Line 30 of your 1040.