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How would you properly categorize & list tax reporting for corona-virus stimulus check deposit?

Hi all, How would you properly categorize & list tax reporting for corona-virus stimulus check deposit?

Best Answers

Answers

  • Tom YoungTom Young SuperUser ✭✭✭✭✭
    The initial round of checks were tax free so they don't need to be included in any tax report.
  • volvogirlvolvogirl SuperUser ✭✭✭✭
    We may need to reconcile it on our 2020 return next year if you didn't get the right amount, like missing a dependent.  
  • riggz609riggz609 Member ✭✭
    But what would you categorize it under? I put it in as a tax credit but that causes it to show up as a credit and reduces my amount spent in my budget for the month...not sure what to re-categorize it as to keep it form factoring in on the monthly budget?
  • riggz609riggz609 Member ✭✭
    Thanks everyone!
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