topic Third Stimulus New Baby in 2021 in Deductions & credits

Third Stimulus New Baby in 2021

windfall248 — Tue, 09 Mar 2021 23:53:54 GMT

Hey Everyone,

My husband and I filed our 2020 taxes and already received our refund; however, we filed a couple weeks before our baby was born on February 18. Would there be any benefit in amending the return to include the baby as a dependent? Would we get the additional stimulus by doing so? Any feedback or info is greatly appreciated. Thanks!

Re: Third Stimulus New Baby in 2021

DoninGA — Tue, 09 Mar 2021 23:56:42 GMT

Since the child was born in 2021 you can only add them as a dependent on the 2021 tax return that you will file next year.

Re: Third Stimulus New Baby in 2021

Hal_Al — Wed, 10 Mar 2021 00:10:08 GMT

Since you did not (and could not) claim the baby on your 2020 tax return, the child will not be eligible for the advance payment of the next $1400 stimulus. However, you will get $1400 for him/her, when you file your 2021 return in 2022.

Re: Third Stimulus New Baby in 2021

SweetieJean — Wed, 10 Mar 2021 00:29:22 GMT

And keep in mind that the 3rd stimulus has not yet been enacted into law, so it could change.