Yes, it is true that you are eligible for the Recovery rebate credit of $1,400 if you are not a dependent of your parents in 2021.
In TurboTax Online, to claim the Recovery Rebate credit please do the following:
- Sign into your account and continue from where you left off
- Click on Federal in the left-hand column, then on Federal Review on the top of the screen
- On the next page titled Did you [or your spouse] get a third stimulus payment?, answer No
- Follow the interview and answer all questions
- TurboTax will determine whether you are entitled to any additional stimulus
- Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.
Please read this TurboTax Help topic for more information on the third stimulus.
Your parents do not have to repay your share of the stimulus that they received in 2021. This will not mess up their situation at all. This is how the tax law was written.
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