How to claim stimulus on taxes

How to claim stimulus payment on taxes? The Economic Impact Payments were an advanced payment of the Recovery Rebate Credit. If you haven’t gotten your stimulus payment but eligible for it, know that you can claim on your taxes when you file your 2024 tax return.

Individuals and couples who don’t have their payment information with the IRS don’t have a way to get their stimulus payments. Since the payment cannot be sent out to them if there is no payment information, they will need to claim the stimulus by filing a federal income tax return. Those who are non-filers also need to file a federal income tax return to get their stimulus.

This is because the IRS needs to obtain the payment information of the taxpayers and ensure the initial purpose of the stimulus since it’s a tax credit. If you ever checked the status of your stimulus payment and seen it as stimulus status not available, know that you also need to claim the stimulus on your taxes.

So how does one claim stimulus on taxes?

When you file 2023 Form 1040, enter the recovery rebate credit amount on Line 30. This is the amount of Economic Impact Payments you were eligible to take but didn’t get. For example, if you haven’t got both Economic Impact Payments and you’re a single filer with income below $75,000, you will need to enter $1,800 plus $500 for each qualifying dependent you have.

For the recovery rebate credit purposes, learn more about who is a qualified dependent/children by reading in-depth article on that.

Take note that there are income limits that apply to the recovery rebate credit. As you make more than $75,000, the recovery rebate credit gets smaller, thus, your Economic Impact Payment. Read more on the stimulus income thresholds.