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Level 1

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

The program asked for the exact amount of the first check but not the second. I had a child born in 2020 so I missed out on her stimulus checks. Therefore, it is only applying a rebate amount of $500 from the first round for dependents and not the $600 for the second check.
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Level 14

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

It will be a while before tax programs are updated to include the second stimulus payment and other tax changes. Don’t plan to file your return until about mid February. 

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Level 15

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

the software should be updated before the filing window opens in late January.  The law was just passed 8 days ago, so time is required to re-tool the software.  TT normally updates over Wednesday night into Thursday morning..  At this time ONLY input the 1st stimulus payment to get the right results.  Be patient about filing until you know the correct amount is reflect in your return....many others in the same boat as 3.5million babies born in 2020. 

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Level 14

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

It will be a while before tax programs are updated to include the second stimulus payment and other tax changes. Don’t plan to file your return until about mid February. 

View solution in original post

Level 15

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

the software should be updated before the filing window opens in late January.  The law was just passed 8 days ago, so time is required to re-tool the software.  TT normally updates over Wednesday night into Thursday morning..  At this time ONLY input the 1st stimulus payment to get the right results.  Be patient about filing until you know the correct amount is reflect in your return....many others in the same boat as 3.5million babies born in 2020. 

View solution in original post

Level 1

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

Thanks for the quick responses. I normally just start inputting some stuff early. It makes sense it will take a bit to apply the new changes. I am also looking to see how the special 2019 lookback for EITC will be implemented.

Level 15

TurboTax asked about the first stimulus check for those who did not receive full checks. The recovery rebate is only applying to the first check. What about the second?

that special EITC feature is not there yet either.  Also, it is my understanding that IF your income in 2020 is lower than 2019 AND using 2019 gives you a better EITC benefit, you can use it,, BUT if your 2020 income is higher than 2019 you can't use 2019 even if it gives you a better benefit (it can happen).  We will see as it is someone confusing at the moment,. 

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