I just thought I check this time around. We never received the last stimulus check, and we do owe $1,200 to IRS working on repayment. But will we receive the 3rd one?

[DanaB27 · Accepted solution]

According to the law the third stimulus cannot be taken for federal debts or back taxes. Therefore if you meet the requirements then you will get the 3rd payment.

To be eligible  you need to be a U.S. citizen or U.S. resident alien in 2020 and have a Social Security number that is valid for employment.

You cannot be claimed as a dependent by someone else to be eligible. 

• If you have an adjusted gross income (AGI) under $75,000 ($150,000 married filing jointly), you should be eligible for the full $1,400 stimulus payment.  
• Payments will begin to be reduced for individuals making $75,000 or above in AGI ($150,000 for married filing jointly.)
• Once your AGI reaches $80,000 for individuals ($160,000) you will be ineligible for a payment.

"Unlike the first two payments, the third stimulus payment is not restricted to children under 17. Eligible families will get a payment based on all of their qualifying dependents claimed on their return, including older relatives like college students, adults with disabilities, parents and grandparents" (IRS).

Please see How will the third stimulus impact me? for more information.

[younginkk]

Thank you so much. And just so that I am correct, we haven't filed our 2020 taxes so that doesn't matter in this case as well? And we are under the AGI 150,000 and have two college students. Thank you again for your answer!

[MinhT1 · Accepted solution]

If you have not filed your 2020 tax return, the IRS will base your eligibility for the third stimulus on your 2019 tax return.

For the third stimulus, unlike the first two payments, your college student dependents will also be eligible for $1,400 each.

For the second stimulus, if you have not received it, you can claim it on your 2020 tax return as the Recovery Rebate credit.

In TurboTax Online, to claim the Recovery Rebate credit please do the following:

1. Sign into your account and continue from where you left off
2. Click on Federal in the left-hand column, then on Federal Review on the top of the screen
3. On the next page titled Let's make sure you got the right stimulus amount, click on Continue
4. Follow the interview
5. TurboTax will determine whether you are entitled to any additional stimulus
6. Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.

[younginkk]

Thank you!