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Level 2
March 22, 2021
Question

Third Stimulus Payment

  • March 22, 2021
  • 3 replies
  • 3 views

Turbo Tax is asking for verification of the amounts of the first two stimulus payments. Shouldn't the third payment also be verified? 

3 replies

VolvoGirl
Level 15
March 22, 2021

No.  The 3rd one is too new.  Your 2020 return only reconciles the first two.

Level 15
March 22, 2021

they will ask next year...

 

the 1st two stimulus payments were an advance against 2020 tax return

the 3rd stimulus payment is an advance against the 2021 tax return. 

Level 2
March 22, 2021

Thank you. So, for new dependents born in 2020, you have to wait until 2022 to get the third payment?

Level 15
March 22, 2021

correct  -  if you don't get the $1400 for the newborn now, it'll shake out when you complete your 2021 tax return next year