Yes. This is really good to know. I just learned this here and confirmed it on the IRS website.
The TurboTax 2021 program prompted my daughter to confirm receipt her 3rd stimulus payment check from 2021. She did not receive a check. Technically, she received $0 in in stimulus in 2021.
My daughter was a dependent on my wife's and my tax return in 2020.
So, we received an extra $1400 3rd stimulus payment around March 2021 for our dependent.
She graduated from college in December 2020 and had much higher income in 2021, she's almost 23 now in 2022, although she still lives with us.
Therefore, she is NOT a dependent for tax year 2021 on my married filing jointly return.
She has her own return as an independent person. And she is completely and legally eligible for her own $1400 issued back to her in 2022 based on the 2021 Recovery Rebate Credit seen on line 30 of the 1040 form. This is an uncommon situation for taxpayers who were dependents in 2020 but became independent in 2021 as the 3rd stimulus checks were being issued. Certain groups of people in this category are effectively getting two third stimulus payments for $1400 each. It is a legitimate credit to take in this instance.
Thank you!
