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?
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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.
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.
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!
@skyworks "They got married in 2020 and did not tell me received 1200 each."
Even when you asked?
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