Deductions & credits

@Opus 17 on the $1400, I was telegraphing what COULD happen to the 3rd stimulus.

 

1) if the IRS uses 2019 tax data (where the child is a dependent) to send out the 3rd stimulus but the tax payer doesn't list the dependent, then the taxpayer should get the stimulus

2) but if the IRS uses the 2020 tax data without the dependent and the taxpayer doesn't list the dependent on the 2021 tax return, there should be no stimulus payment for the dependent and there should be no Recovery Credit. 

 

timing is everything on these stimulus / recovery credits when adding / subtracting dependents.