Recovery Rebate Credit Worksheet
ProSeries Professional
Recovery Rebate Credit Worksheet
The Recovery Rebate Credit Worksheet calculates any additional credit in excess of the economic stimulus payment that was received in 2008. If the credit is larger than the amount of rebate received in 2008, the additional credit will reduce the tax calculated on the 2008 return. If the credit is smaller than the rebate received in 2008, the amount does not need to be repaid.
Before you begin to fill out this worksheet, see the printed instructions for Form 1040, line 70 to make sure you are eligible for this credit.
The Recovery Rebate Credit Worksheet can be accessed from the Form 1040 Line 70 quick zoom.
The economic stimulus payment amount can be found on Notice 1378, which is distributed by the IRS. Enter amount on line 28 of this worksheet.
