Stimulus Plan & Taxes

[pnutmnm]

I don't know if this has been posted before, but I need some help.

In 2009, we received the $800 as part of the stimulus plan. I didn't receive any paperwork (1099 ?) at year end for this and I didn't see it come up during the income section in Turbo Tax. I am sure that we have to claim it (bummer) but my question is where?

Thanks

 

[dfchelbay]

I don't know if this has been posted before, but I need some help.

In 2009, we received the $800 as part of the stimulus plan. I didn't receive any paperwork (1099 ?) at year end for this and I didn't see it come up during the income section in Turbo Tax. I am sure that we have to claim it (bummer) but my question is where?

Thanks

I'm sorry to latch on to your thread, but I am seeing a lot of questions about this $800 check from the government. We've not received anything. Is this $800, the same as the few dollars more per paycheck over the course of the 2009 year? Or, is it separate? We did receive stimulus money in 2008. I believe it was $300 for singles, and $600 for married. That was in the form of a check. We received no check in 2009 at all.

Anyone know?

 

[DOPEYLUVER]

The stimulus money is a reduction of taxes paid-a credit. When OP gets to the section where the making work credit appears, they will not be eligible. It is not income.

For the second poster, when you get to the part where the making work credit appears, you will (probably?) be eligible. It is in theory the few dollars more per paycheck. So you will have paid in less and therefore get back less. You get the credit though.

 

[okeydokey]

Over the course of the year you had less taxes taken out of your paycheck. You also have to file a schedule M in order to declare the 800 so they won't deduct it from your tax return this year. Look up the instructions for the Schedule M and print a copy of it online. I states taht in order to receive the credit you HAVE to submit the Schedule M.

The IRS has been catching some of these that neglected to do the schedule M and have fixed it and sent an additional 800 on your return, but they have not caught all of them.

 

[deerhart]

When you fill out your taxes, you NEED to take the tax credit for the $800 that you received over the course of the year UNLESS you meet one of the exceptions (which usually has to do with social security benefits NOT working).

You do not claim it as income as it is already REPORTED as income in your w-2's (unless again your on SS).

 

[CoP Luv]

We put it in the Making Work Pay under the "credits" section and filled out Schedule M and attached it to our return.