How do I report the stimulus check I received on my taxes?
Sunday, April 11, 2010 10:18Posted in category 2009 Stimulus Check
I am filing my taxes for 2008. Do I need to report the stimulus check I received in 2008? If so, how?
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rtfm says:
April 11th, 2010 at 10:47 am
You don’t need to. It’s not taxable income.
Some of the online tax prep sites are asking people how much they got for the stimulus last year — but that’s only so they can make sure you got what you were supposed to, and so they can make it up to you this year if you didn’t get it last year.
TONI says:
April 11th, 2010 at 11:09 am
YES BECAUSE THEY ASKED YOU BUT IF THEY DON’T THEN HEY…DO YOU!!!
hrblockerrolquinn says:
April 11th, 2010 at 11:47 am
Dear SJ: The IRS form 1040 line 70 is the rebate recovery amount from last year that you did not get. This line on most Americans return is zero because they got it all last year. In order to know if line 70 is zero you must use a worksheet and enter your stimulus payment on that worksheet to calculate any additional amount due to you this year. You are not being taxed on last years payment.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor
sidney J says:
April 11th, 2010 at 12:02 pm
no ..my tax cut software just tossed it