| Panel | ||
|---|---|---|
| ||
This article discusses Economic Impact Payments/RRC and how to enter them on their respective returns.
|
...
EIP 1 ($1,200 per taxpayer/spouse, $500 for qualifying children): Created by the CARES Act (2020), issued April 2020. This had to be claimed on a 2020 return prior to May 17, 2024.
EIP 2 ($600 per taxpayer/spouse, $600 for qualifying children): Created by the Consolidated Appropriations Act (2021), issued January 2021. This had to be claimed on a 2020 return prior to May 17, 2024.
EIP 3 ($1,400 per qualifying person): Created by the American Rescue Plan Act (2021), issued March 2021. This has to be claimed on a 2021 return prior to April 15, 2025.
...
How Do I Know If I Received Economic Impact Payment 1 or 2?
...
Access the RRC Worksheet by selecting worksheets from 1040, Line 30.
Enter the amount of EIP received, in the correct EIP section for the taxpayer and the spouse.
If the taxpayer received no EIP, checkmark the no stimulus received boxes as needed.
2020 Return EIP 1 and EIP 2
*This had to be claimed on a 2020 return prior to May 17, 2024.
2021 Return EIP 3
*This has to be claimed on a 2021 return prior to April 15, 2025.
| Info |
|---|
Upon completing the Recovery Rebate Credit Worksheet you can view the amount of the taxpayer's Recovery Rebate Credit on 1040, Line 30. |
...