Should i add my stimulus payment on my tax return as other income and if so where do i get the correct figure

[VolvoGirl]

No.  You don't report it as income but you do have to enter it.

The Stimulus Checks are really based on your 2020 return we are filing in 2021.  So any amount you already got will be reconciled on your 2020 return line 30.  If you didn't get a Stimulus Check (and qualify) or you qualify for more it will be added to your 2020 return.  But the good news is if they paid you too much they won't take it back.

There will be a screen with 2 boxes for each round.  If you didn't get one enter a 0 in the box.

When you go through the federal review tab it will ask how much you got if any.  Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus."

After you have entered your tax information and are ready for the Federal Review, it will be the first question.

If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.

The Recovery rebate credit is on 1040 line 30.  It either adds to your refund or reduced a tax due.

[pbrobic]

I received a letter from the IRS that said I do not have to claim it as taxable income.  Before I entered the amount of stimulus received, I was getting a refund. Now I have to pay $1613.  Not sure what this means.  It sounds to me like I am being taxed.

[VolvoGirl]

You are not paying tax on them.  But Turbo Tax started out by assuming you didn't get it and  giving you credit for the whole amount so your refund was too high to begin with.  Then when you entered what you already got the starting refund was reduced or the tax due increased. Otherwise you would be getting the Stimulus amount on your tax return.

Look at your return.  The Stimulus payments do not show up anywhere as taxable income so you are not being taxed on it.

[pbrobic]

I received a letter from the IRS stating that the second stimulus check is not taxable income.  When doing my taxes, I entered the stimulus amount as requested.  Before entering the stimulus I was receiving money.  After I entered the stimulus amount, I now ow$1613.  This doesn't seem right.

[pbrobic]

Why would it change so drastically from getting $2200 to owing $1613?