Economic Recovery 3rd rebate

[Greta]

The third rebate was $1400 per person. For those who did not get it, I presumed there would be a way to retrieve in in 2021 filing. I don't see it in the version released. Rather it's still asking about rebates 1&2. Another reason not to transfer any clients.

[Just-Lisa-Now-]

The program isnt updated for new 2021 items yet.

[Greta]

Right. I did see the 2021 EIC credit is updated. And Form 8812 has the new box for Letter 6419 questions.

[jeffmcpa2010 · Accepted solution]

Transferring clients won't be affected. When the forms are released and you later open a  previously transferred client the updated forms will all show at that time, at least that's how it worked in the past for me.

I generally transfer at least 1, (usually my own) just to play with and see what is there and working.

I don't bulk transfer for the actual returns in any case - My practice has to been to transfer them over as the client information is received. - One of the ways I use to track who is in and who is not.

[Just-Lisa-Now-]

I transfer them in as the data comes in as well, much easier to manage Homebase. But there have been instances in prior years where certain bugs didnt get fixed in returns that had already been transferred (data in the client file that should have transferred from the prior year but didnt), so many of us are gun-shy about transferring early.

[Greta]

I do bulk transfer so as to use the less hectic January to fill out time-consuming info, such as the County name in state return that for some reason (?!) does not transfer, update expired driver licenses, Form 8867, check boxes in the info sheet I might later forget for Forms 1095 and 8880, EIC, printing preference for seniors, etc.