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 Young
    Tom Young SuperUser ✭✭✭✭✭
    The initial round of checks were tax free so they don't need to be included in any tax report.
  • volvogirl
    volvogirl 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.  

    I'm staying on Quicken 2013 Premier for Windows.

  • riggz609
    riggz609 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?
  • riggz609
    riggz609 Member ✭✭
    Thanks everyone!