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baracus5
New Member

Where do i include a stimulus payment received in my income for tax year 2020?

I received one stimulus payment in tax year 2020.  Should I include it as income?
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Where do i include a stimulus payment received in my income for tax year 2020?

NOT INCOME

 

look in the 'federal review' section at the end of the interview; it's one of the very last things entered. 

 

if you are due a recovery credit, it will appear on Line 30. 

Where do i include a stimulus payment received in my income for tax year 2020?

you should have received two payments EIP1 and EIP2.

If you did not get a second payment, tell TurboTax you got zero for the second payment.

Where do i include a stimulus payment received in my income for tax year 2020?

It is not income but you have to enter it to see if you qualify for any more and so Turbo Tax doesn't give it to you again on your return.

 

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." Say no to the amounts it shows you. Then 2 boxes will open up for each round. If you didn't get one enter a 0 in the box.

 

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 reduces a tax due.

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