topic How do I claim the recovery rebate credit on one of my children? in Get your taxes done using TurboTax

How do I claim the recovery rebate credit on one of my children?

Ashley8494 — Sun, 03 Jan 2021 03:57:12 GMT

How do I claim the recovery rebate credit on one of my children? One was born this year and the other i get to claim as a dependent this year as his dad did prior year due to custody.

Re: How do I claim the recovery rebate credit on one of my children?

NCperson — Sun, 03 Jan 2021 04:12:03 GMT

@Ashley8494 - see my other response... just fill out the 2020 tax return and you will see the stimulus credit due you on LINE 30 of FORM 1040.

at the END of the interview process is where the questions about stimulus appear. Currently TT is only programmed to reflect one stimulus payment but I suspect it will be updated in time for when the filing window opens at the end of January.

for the 2020 baby, when you get to the question , how long did your child live with you this year, answer 'all year' not the number of months since birth - it'll save you a lot of headache.

Re: How do I claim the recovery rebate credit on one of my children?

Ashley8494 — Sun, 03 Jan 2021 16:28:02 GMT

I am using the app so I'm not sure where to find that. Even though his dad already got the stimulus money for him since he claimed him on 2019 taxes, I am still able to receive the recovery rebate for 2020 taxes?

Re: How do I claim the recovery rebate credit on one of my children?

NCperson — Sun, 03 Jan 2021 16:34:48 GMT

YES - that is a quirk in how the stimulus laws were passed.

The PAYMENTS were based on 2018 / 2019 tax returns - those were the IRS's best guesses of what everyone was eligible for,

But the 2020 tax return (your filing status, the dependents you list and your income) is where the IRS determines what you are ACTUALLY eligible for,

They take that actual, subtract the payments, and they owe you the difference. if the difference is negative (which is what is going to occur with your ex), you don't have to pay it back.

So divorced / separated / unmarried parents that trade off who claims a child each year end up EACH getting the benefit for that child. It's the way the law works; Congress knew it and chose not to close the quirk with the 2nd stimulus payment.