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Level 2
January 26, 2021
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second stimulus received 1/1/2021

  • January 26, 2021
  • 1 reply
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Do I record second stimulus received 1/1/2021 on my 2020 tax return

    Best answer by DoninGA

    Yes, you report the second stimulus payment received in 2021 on your 2020 federal tax return.

     

    The stimulus questions are asked in the Federal Review section of the TurboTax program.  Any payment you were eligible to receive based on the 2020 Federal tax return but did not receive will be entered on the Federal tax return, Form 1040 Line 30 as a tax credit.  The credit is included in the federal tax refund or it will reduce the amount of federal taxes owed.

    1 reply

    DoninGA
    Level 15
    DoninGALevel 15Answer
    Level 15
    January 26, 2021

    Yes, you report the second stimulus payment received in 2021 on your 2020 federal tax return.

     

    The stimulus questions are asked in the Federal Review section of the TurboTax program.  Any payment you were eligible to receive based on the 2020 Federal tax return but did not receive will be entered on the Federal tax return, Form 1040 Line 30 as a tax credit.  The credit is included in the federal tax refund or it will reduce the amount of federal taxes owed.

    robertjl-Author
    Level 2
    January 26, 2021

    Thanks