Why TurboTax Is Asking About Stimulus Checks

Stimulus checks were sent to millions of Americans after the first round of economic relief passed in the spring of 2020 and once after the second stimulus bill passed at the end of the year. However, some eligible people didn’t receive checks or didn’t get the full amount. 

In order to determine your eligibility for a Recovery Rebate Credit, TurboTax needs to know whether or not you received the full amount of the stimulus payments that you were eligible to receive. Your Recovery Rebate Credit will be zero if you already received stimulus checks in full. 

If you received both rounds of stimulus checks in the correct amounts, simply note that in your answers. However, if you are still missing stimulus funds, TurboTax can ensure that you receive the money through the tax credit.  

View more information: https://marketrealist.com/p/why-turbotax-asks-about-stimulus-checks/

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