I only claimed one of my two children on my 2019 taxes. If I amend my taxes to claim the other (both under 10 years old) will I get a check for the difference of money owed on my return? And will I be eligible to collect the stimulus payments I did not receive for him in 2020 since he was not claimed?
The stimulus credit/rebate is only based on what you claim on your 2020 tax return. Amending your 2019 return won't change that. You might qualify for up to a $2000 child tax credit, depending on your income and other credits. You might also qualify for a larger EIC or larger dependent care credit. However, if the reason you did not claim the child is that they did not have a social security number, the most you would get back is the $500 credit for "other dependent."
Why didn't you claim your child before? That might be important.
Amending your 2019 return will not get stimulus money for you now. The stimulus money paid last year was an advance on a credit you can get on your 2020 tax return. If you cannot claim the child on your 2020 tax return you will not get stimulus money for him now. The IRS will not go backwards now to use your 2019 return.
I had given his mom permission to claim but she just informed me she did not end up claiming him. She states she made so much it made no difference for her, however it would have made a big difference for me. I would at least be eligible for the dependent credit from taxes. Would I receive that?
If you amend your 2019 return to claim the child you can get the child-related tax credits that you are eligible for like either child tax credit or maybe earned income credit. Were you the custodial parent? If the child lived with you then you can also file as Head of Household and get the childcare credit if you paid someone to take care of the child while you worked. You will not get the stimulus check for him.
Select your tax year for amending instructions:
Yes. If he was not claimed and qualifies as your dependent, I would amend your 2019 to include him as a dependent.
Here are instructions on how to amend your return.
- a 2019 amendment will need to be printed and filed by mail.
- Allow 16 weeks for processing.
See this TurboTax FAQ for help with amending.
You can check the status of your amended return here, but allow 3 weeks after filing for it to show up.
As far as the stimulus payment; care you claiming both children in 2020? If so, you will qualify for the Recovery Rebate Credit on your 2020 return.
In TurboTax Online, to claim the Recovery Rebate credit please do the following:
- Sign into your account and continue from where you left off
- Click on Federal in the left-hand column, then on Federal Review on the top of the screen
- On the next page titled Let's make sure you got the right stimulus amount, click on Continue
- Follow the interview
- TurboTax will determine whether you are entitled to any additional stimulus
- Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.
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Ok, let's go back a step.
If you have custody more than half the nights of the year, what you should have done in Turbotax is list the child as living with you more than half the year (select "7 months" or longer), and then say that you were allowing the other parent to claim the child with a signed form 8332 (and then you give the other parent a signed 8332). Turbotax would have allowed the child to qualify you for head of household, EIC and the dependent care credit, but not the $2000 child tax credit.
Assuming you did that, and the other parent did not use the form 8332 to claim the child, you could amend and change your answer on the custody question to "no", you will not share the child with a custody agreement. That would qualify you for the $2000 child tax credit for that child, although the credit is "up to" $2000 and the exact amount will depend on your income. And, I would ask the other parent to give you back the signed form 8332 so it can't be accidentally used.
If you are the parent who did not have custody more than half the nights of the year, you can't claim the child unless you get a signed form 8332 from the custodial parent, no matter what your court order says. The IRS follows federal tax law and not state court orders.