2020 baby and the stimulus

[FCH77]

If we get an additional stimulus check, would I be able to amend my 2020 return? I believe the monies would be based on our 2019 returns, but I had my child in 2020. I would like to be able to claim that on my taxes in order to get it this year. I submitted last month, but I know it run be be processed until 2/12 at the earliest.

[DawnC]

If you had a child in 2020, you need to claim the recovery rebate on your 2020 in order to get the payment.   The IRS would not have known about your newborn when the payments went out.  The credits are based on your 2020 tax situation.   If you correctly entered the amount of your stimulus payments when you filed your return,  TurboTax would have added the recovery rebate to your tax return and you would see the amount for the baby on Line 30 of your Form 1040.   

If you would like to review and update the Recovery Rebate Credit portion of your 2020 tax return before it is sent to the IRS when they open on February 12th, please enter your information here by February 6 to register to have your 2020 tax return sent back to you.   You will then receive an email from TurboTax on February 8, letting you know that your return is available and providing you with detailed instructions on how to review, update and re-file your tax return.

[FCH77]

Thank you! I was referring to the third stimulus check that may be approved in the next few weeks. If they are, once again, based on our 2019 returns, my child won't be counted. Under those circumstances, could I amend my 2020 return to claim that credit for him?

[Irene2805]

Congratulations on your new baby!

Did you include the baby as a dependent on your 2020 return?  If you did, TurboTax should have included  him/her in the calculation for the Recovery Rebate on your 2020 return.

We don't know yet if there will be a third stimulus payment, although it does look like Congress is heading in that direction.  We also don't know what it will be based on.  By the time the legislation is passed and the IRS develops the qualifications, they may be based on the 2020 returns.

I am sure there will be provisions made for all the 2020 babies!