Turbo Tax Stimulus Question

Forum|Forum|5 years ago
January 7, 2021
5 replies
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When filling out the 2020 Turbo Tax forums/questions it gets to a part that asks about your 2020 stimulus payment and how you received it (I will file married filing jointly). We received one payment. Is this question referring to the "LAST" most recent payment when it asks how much the amount was since it says "one payment" or is it a total of BOTH stimulus payments? I'm just curious so I know to enter the corrupt amount.

Not A Product Question

DoninGA

Enter the total received in early 2020. If you filed as Married Filing Jointly and did rot receive a payment for any dependents then the amount would have been $2,400.

The second stimulus payment would have been received between December 30, 2020 and January 15, 2021.

Opus 17

Once the program is updated, there will be 2 boxes, to enter your round 1 and round 2 payments separately. The desktop program was updated today, we think the online program may be updated over night but don't know for sure.

NCPERSON1

@Opus 17 - saw from @VolvoGirl that the online software did update and now requires the two payments!!!

VolvoGirl

@NCPERSON1 No it wasn't me. I don't think I said Online was updated. I only checked my Desktop program so far.

NCPERSON1

there should be two places on the screen to report EXACTLY what you received

the first was received back in the spring

the 2nd would have been received in the last week. Suggest waiting a few weeks as if you had not received, you still could. The IRS is still sending out payments/

drivel2787Author

I received both, but if the amounts are adjusted/based on 2020 income (instead of estimated off of 2019) then I'll be owed additional money pretty much... I haven't purchased the desktop software yet, I was just messing around today to get an idea of what my return would look like.. So, I'll wait for the update and enter both as I've received both, just they were reduced due to my income being higher in 2019 (because of a 401k withdrawal to pay for lawyer fees for a divorce/custody battle). But, 2020 income will be lower, so I believe if that's computed, it should increase where I'm owed around an additional 2-3k with dependents.

Opus 17

@drivel2787 wrote:

I received both, but if the amounts are adjusted/based on 2020 income (instead of estimated off of 2019) then I'll be owed additional money pretty much... I haven't purchased the desktop software yet, I was just messing around today to get an idea of what my return would look like.. So, I'll wait for the update and enter both as I've received both, just they were reduced due to my income being higher in 2019 (because of a 401k withdrawal to pay for lawyer fees for a divorce/custody battle). But, 2020 income will be lower, so I believe if that's computed, it should increase where I'm owed around an additional 2-3k with dependents.

That is certainly possible, although I can't calculate it for you, you will have to wait to prepare your return. If you are eligible for a larger rebate than you received, such as due to decreased income, the difference will be added to your refund as a credit. Good luck.

rbranch12

The account number that they have my stimulus money going to is different from my account number that i have put on file when i filled out my taxes on 2/12/2021

Irene2805

Right now, there is no way to change your information for your stimulus check. The payment will be based on the information from your latest tax return and will go to the bank account or address the IRS has on file for you.

For more information please see this TurboTax Help article: How will the third stimulus impact me?

@rbranch12

rbranch12

can someone please reach out to me at [phone number removed]