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This has happened to several people and the IRS has not indicated where or how to report this.
I do know that the stimulus payments will all be reconciled when you file your 2020 return (in 2021) and if you were not paid the correct amount you will receive it then. I know that doesn't help you today, but I'm not sure the IRS will issue corrections before then. Several have indicated their payment amount seems to correspond with the children claimed on the 2018 return, not 2019. Again, we are not aware of how the IRS is determining which return to go by. We thought it would be 2019 if that had already been filed, but reality is showing us this is not always the case.
My son turned 17 in late July 2020 but Turbotax is saying he doesn't qualify. I am only getting a payment for 1 child when I should get 2. He is also still in school. In 2020 turbotax prep it gives the amount I got an not option for asking for the missing money. How do you clarify with them that I should receive payment for 2 school age children. Proceeds from the 1st payment were when one was 16 and one was 15. I only received money for one child. Turbotax does not give you an option to correct anything there.
@MsBeachMimi wrote:
My son turned 17 in late July 2020 but Turbotax is saying he doesn't qualify. I am only getting a payment for 1 child when I should get 2. He is also still in school. In 2020 turbotax prep it gives the amount I got an not option for asking for the missing money. How do you clarify with them that I should receive payment for 2 school age children. Proceeds from the 1st payment were when one was 16 and one was 15. I only received money for one child. Turbotax does not give you an option to correct anything there.
A dependent age 17 or older is not eligible for the Recovery Rebate Credit on a 2020 tax return.
IRS website for the Recovery Rebate Credit - https://www.irs.gov/newsroom/recovery-rebate-credit
If we issued you the full amount of each Economic Impact Payment, you won’t need to claim the Recovery Rebate Credit or include any information related to it when you file your 2020 tax return because we already issued your Recovery Rebate Credit as Economic Impact Payments.
If you’re eligible for the credit, and either we didn’t issue you any Economic Impact Payments or we issued less than the full amounts, you must file a 2020 tax return to claim the Recovery Rebate Credit even if you are not required to file a tax return for 2020.
Economic Impact Payments were based on your 2018 or 2019 tax year information. The Recovery Rebate Credit is similar except that the eligibility and the amount are based on 2020 information you include on your 2020 tax return.
You will need to know the amount of any Economic Impact Payments issued to you to claim the Recovery Rebate Credit. If you’re eligible for the Recovery Rebate Credit on your 2020 tax return, it will be reduced by any Economic Impact Payments we issued to you. Always be complete and accurate when you file a return.
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