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Level 5
Mar 6, 2021 2:52 AM UTC
Question

Covid recovery rebate or EIP

Hi,

 

A MFJ taxpayer received $2400 ($1200 in April 2020, and $1200 in Jan 2021)

I have entered the payments on the recovery credit imput screen by taxpayer and Spouse Columns.

I thought they received full amount of Recovery rebates, but why they still receive another $1200 on their 1040 line 30?

Am I wrong?

 

 

This topic has been closed for replies.

4 replies

Mar 6, 2021 3:10 AM UTC

The first stimulus was $1200 PER spouse.  So if they received the full amount, they would have received a total of $2400 for the first stimulus.  So you may want to double check how much they received.

qbteachmt
Level 15
Mar 6, 2021 5:24 PM UTC

Perhaps it would help to review what is really happening:

The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.

You might want to bookmark these links and read the IRS guidance.

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility

https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility

One for each EIP.

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skyworksAuthor
Level 5
Mar 7, 2021 9:07 PM UTC

They got merried in 2020 and did not tell me received 1200 each.

Now I entered $1200 each for first round and $600 each for second round rebate

 

Line 30 is Zero.

 

Thanks!

BobKamman
Level 15
Mar 7, 2021 10:30 PM UTC

@skyworks  "They got married in 2020 and did not tell me received 1200 each."

Even when you asked?