3rd Stimulus Payment

[lalek81]

With our adjusted gross income, Turbo Tax indicated that my spouse and I are eligible for a third stimulus payment of $2,800, however, we received a payment of $2,100 each in March of 2021. I am at the section of "other tax situations" and Turbo Tax is asking if the eligible amount of $2,800 match the amount on the Letter 6475 received from the IRS. I answered no, but next I am asked to "Enter the exact payment, as it appears on your letter 6475 from the IRS". The question is do I enter a combined amount from both of the letters ($4,200) or just one? ($2,100).

[xmasbaby0]

The third stimulus was $1400 per person.   How did you and your spouse each receive $2100?   Are you confusing that with something else?   Check your bank records.    Did you have any dependents claimed on your tax return?

[DoninGA]

You must have received something else other than the 3rd stimulus payment.  The 3rd stimulus payment was $1,400 each for you and your spouse if filing as Married Filing Jointly and $1,400 for each dependent on your tax return.

Did you receive any advance child tax credits for dependent children in 2021?

The IRS Letter 6475 actually shows you receiving $2,100? 

[lalek81]

Is the amount on letter 6475 or the amount on notice 1444-C the correct one?

[lalek81]

Letter 6475 indicates $2,100 and we did not receive any advance child tax credit for dependent children because we have none. I am also looking through our bank statements, trying to check exactly how much was deposited to our account.

[DoninGA]

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@lalek81 wrote:

Letter 6475 indicates $2,100 and we did not receive any advance child tax credit for dependent children because we have none. I am also looking through our bank statements, trying to check exactly how much was deposited to our account.

---

From the IRS website - https://www.irs.gov/newsroom/2021-recovery-rebate-credit-topic-g-finding-the-third-economic-impact-p...

• Your Notice 1444-C, Your Third Economic Impact Payment, which shows the amount of the third payment. If you received joint payments with your spouse, the letters show the total amount of each payment. If you file separate 2021 tax returns, each of you must enter half of the amount of the payment shown on Notice 1444-C. Individuals who received plus-up payments received a separate Notice 1444-C after your payment was issued.
• Letter 6475, Your 2021 Economic Impact Payment(s). In January 2022, we'll send this letter confirming the total amount of the third Economic Impact Payment and any plus-up payments you received for tax year 2021. If you received a joint payment with your spouse, the letter shows the total amount of payments. If you file separate 2021 tax returns, each of you must enter half of the amount of the payment shown on Letter 6475.

[alandsb01]

The IRS Letter 6475 shows only the amount that you received. Your spouse should have received an identical letter. If you received $4200 together, then it means you had a dependent on your 2019 or 2020 return and received an additional $1400 ($700 each) for the dependent. You should enter $4200 for the full amount and correct calculation.

Hope that helps!

[newusernameagain]

I file a joing return and have one dependent. We received a single $4200 Stimulus Payment in March 2021. My wife and I each received Form 6475 saying we received $2100 each which was confusing since we thought ithe payment was only for $1400 each.

Its as though they arrived at the $2100 by  splitting my dependent daughter's $1400 into $700 for my wife and me so that we each received $1400 + $700 = $2100.

I think this agrees with what happend to the OP and now makes sense.

[Arches National Park]

Our third stimulus check was for $4200, which is $1400 each of us and $1400 for our then dependent (based on 2020 filing). In my husband's and my IRS accounts, it shows we each got $2100, same as the OP.  For 2021, our adult child is no longer a dependent.  When TT asks about the 3rd stimulus payment we received, do we put $4200 on ours and $0 on his, or $2800 on ours and $1400 on his, which is what the reality is, but not what our individual IRS records show. Thanks for any insight. 

[xmasbaby0]

@Arches National Park You received $4200 so that is what you enter.   You enter the amounts from your letter 6475 ---both letters.

If your son did NOT receive the stimulus check in 2021 then on his return he says he did NOT receive it.  If he cannot be claimed as a dependent for 2021 then he can get the $1400 as a recovery rebate credit on line 30 of his own tax return.   He does not enter the fact that YOU received it.   You do not have to pay it back; he can get it himself but only if he CANNOT be claimed as  dependent for 2021.

[Arches National Park]

Wow, now this sounds too good to be true!  Effectively, two #3 stimulus checks into the family for him. Of course because he was a student and dependent, he didn't get either of the first ones, so maybe it evens out.  I think we misplaced the Letter 6475's but we both created IRS accounts and checked what it said, and that matches up with what we received, so can we just go with that?  (the $4200)?   Thank you so much for your great and very speedy reply!

[xmasbaby0]

Congress left a loophole in the tax law that means even if you got the $1400 for yourselves and your son based on your 2020 return, you do not have to pay it back.   And your son can get it for himself if he cannot be claimed on a 2021 return.

[Arches National Park]

Nice. No way can he be claimed for 2021 since he made around $8k and wasn't a fulltime student.  This will be a good help paying tuition when he goes back next spring.  Thank you so much for telling me about this.

[Arches National Park]

Hello again,

My spouse was a little worried about claiming the $1400 again for our son since WE already received it, so helped our son create an IRS account to see what info they could find.  Under son's "Tax Records", it shows "Form 1040", "single", and "Economic Impact Payment 3  $1400" even though he did not receive his own check . . . . it came as part of the $4200 check we received for the 3 of us.  We could not find a Letter 6475 on his IRS record.  Are we correct in assuming that he cannot get the Stimulus 3 for himself (via 2021 tax return)?  Thanks for any help.   

[xmasbaby0]

As already explained to you---if your son cannot be claimed as someone else's dependent on a 2021 tax return then he CAN get the $1400 recovery rebate credit.   You have stated that he cannot be claimed.  Are you not sure if he can be claimed?  Was he a full-time student under the age of 24 at the end of 2021?   Or if he was not a student, was 24 or older, did he have more than $4300 of income in 2021 --not counting Social Security?

Review the criteria for claiming a dependent again.   CAN he be claimed as a qualifying child or qualifying relative?   If he CANNOT be claimed as either type of dependent then he can get the $1400 on his own tax return.   The $1400 you and your spouse received is irrelevant and does not get entered on your son's tax return.

IRS interview to help determine who can be claimed:

https://www.irs.gov/help/ita/who-can-i-claim-as-a-dependent

https://ttlc.intuit.com/questions/3113432-who-can-i-claim-as-my-dependent  

WHO CAN I CLAIM AS A DEPENDENT?

You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2021 taxes as long as they meet the following requirements:

Qualifying child

• They're related to you.
• They aren't claimed as a dependent by someone else.
• They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.
• They aren’t filing a joint return with their spouse.
• They're under the age of 19 (or 24 for full-time students).
• No age limit for permanently and totally disabled children.
• They lived with you for more than half the year (exceptions apply).
• They didn't provide more than half of their own support for the year.

Qualifying relative

• They don't have to be related to you (despite the name).
• They aren't claimed as a dependent by someone else.
• They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.
• They aren’t filing a joint return with their spouse.
• They lived with you the entire year (exceptions apply).
• They made less than $4,300 in 2021.
• You provided more than half of their financial support.

When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent.

Related Information:

• What does "financially support another person" mean?
• What is a "qualifying person" for Head of Household?
• Does a dependent for 2021 have to live with me?
• Do I qualify for Head of Household in 2021?
• Can I claim myself or my spouse as a dependent?

For your son:

https://ttlc.intuit.com/community/dependents/help/when-do-i-have-to-answer-yes-to-being-claimed-as-a...