#3rd economic impact payment

[dgreg24]

When i filed my 2020 taxes my son was considered a dependent and the 3rd stimulus payment we received included payment for him as our dependent.  While starting my 2021 taxes i realized that he is no longer considered a dependent.  While helping with his taxes the software asked if he received a 3rd stimulus payment.  So I'm confused by how the question is asked.  He did not receive a payment, and when answered that way turbo tax claims the credit on his return.  Is this correct?  When it says did you receive a payment, does it mean a payment directly to you , in your name, or that someone received a payment because of you.  The language on the IRS website is very similar.

Thanks    

[DoninGA]

If your son is completing a tax return and he is the Taxpayer then the question is directed at him and him alone.  If he personally did not receive the 3rd stimulus then on his tax return he would indicate that No he did not.

However, why is he not a dependent in 2021 when he was a dependent in 2020?

How old is your son?  Is he a full time student under the age of 24?  If not a full time student and age 19 or older did he have income of $4,300 or more in 2021?

[dgreg24]

Thank you, that's how I read the question as well, as if it was directed to him, but I wasn't confident enough with that to let him file that way based on my interpretation.  He is currently 24 and was a full time student at the time the 2020 taxes were filed.

[DoninGA]

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@dgreg24 wrote:

Thank you, that's how I read the question as well, as if it was directed to him, but I wasn't confident enough with that to let him file that way based on my interpretation.  He is currently 24 and was a full time student at the time the 2020 taxes were filed.

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If he was age 24 at any time in 2021 and he has income of $4.300 or more than no one can claim him as a dependent.  If this is the case then he can file his own tax return as not a dependent and would be eligible for the 3rd stimulus payment of $1,400.

[VolvoGirl]

He can get his own 1,400 Stimulus payment (called the Recovery rebate credit) on line 30 even if you already got it for him.   And you don't have to pay it back.   

[dgreg24]

Okay, He filed a return for 2020 but he was a dependent on mine, as he was a student and less than 24.  so based on that we received a stimulus payment that included him.  So, filing our taxes for 2021, turbo tax determines that he's no longer a dependent of mine and for the first time his tax return shows that he's not being claimed as a dependent.  based on that and your previous post he can claim the 3rd payment on his return.  Correct?

[dgreg24]

Thank You.

[DoninGA]

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@dgreg24 wrote:

Okay, He filed a return for 2020 but he was a dependent on mine, as he was a student and less than 24.  so based on that we received a stimulus payment that included him.  So, filing our taxes for 2021, turbo tax determines that he's no longer a dependent of mine and for the first time his tax return shows that he's not being claimed as a dependent.  based on that and your previous post he can claim the 3rd payment on his return.  Correct?

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Correct.