First -round Stimulus - dependents

nixid — Sat, 16 Oct 2021 05:06:36 GMT

First-round stimulus based on 2019 taxes. I had not filed 2019 at the time so they looked at 2018, 1 dependent listed on 2018. I received $1700.

Second-round after I filed 2019 , $1800, based on 2019 where I had 2 dependents.

Now turbo tax saying that First round of $1700 is correct when it should be $2200 based on my 2 dependents on 2019 return.

Confusing part might be that 2020 return only has 1 dependent again.

I believe that I am suppose to be able to claim the additional $500

Re: First -round Stimulus - dependents

nixid — Sat, 16 Oct 2021 05:13:49 GMT

Also program assumed second stimulus amount was $1200

Re: First -round Stimulus - dependents

xmasbaby0 — Sat, 16 Oct 2021 23:36:26 GMT

Those stimulus payments are really based on your 2020 tax return. The stimulus payments were an advance on a credit you can get on your 2020 return, based on your income for 2020 and which dependents you claim for 2020. If you got more than your 2020 income qualifies for you do not have to pay it back,but they will not use 2019 for the recovery credit. The IRS will not go backwards now and use anything from your 2019 return. Your 2019 income does not matter.

The 1st EIP payment was $1200 for adults and $500 for dependents under the age of 17; the 2nd EIP payment was $600 for adults and $600 for dependents under 17.

If your 2020 income was too high then the credit is phased out according to income.

The stimulus check is an advance on a credit you can receive on your 2020 tax return. If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”) If you are eligible it will end up on line 30 of your 2020 Form 1040.

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-2020-tax-return

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

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First -round Stimulus - dependents

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