Economic Impact Payment

[PCB]

Married filing joint. In March 2021, we received  $2800. ($1400. each) for the 2021 economic impact payment.  Our combined IRS letters show the same.  The question in Turbo Tax states we are eligible for a third stimulus check for $4200. (we believed we received all payments since this started, 3 in total).  After answering no that our letter was different , I entered the  total amount of the letters and it says we are eligible for the recovery act credit which shows $1400.  Could this be right?

[xmasbaby0]

You have left out some information.   Do you have a dependent claimed on your tax return?   If not, and you are filing a joint return--you say you each already received the $1400.   If that is the case, you do not get the credit again.   If you are now adding a dependent on your 2021 return you get the $1400 for the dependent that you added.   

If it is just the two of you----you are answering incorrectly.  Your line 30 should be blank.

[DianeW777]

It depends.  You must enter the full $2,800 you actually received in 2021 for the third economic impact payment (3EIP).  If you have a dependent child, then you would also be entitled to an additional $1,400.  It is $1,400 per person on the 2021 tax return.

[PCB]

I'm claiming an adult son for 2020.  I know he received his own stimulus checks. He also got a letter from the IRS but did not file taxes.

[PCB]

Yes, I am claiming an adult child on my taxes this time. Didn't even dawn on me that it would apply. Thank you.

[olycher]

I am having a similar situation.  My adult son received his own 3rd stimulus in 2021 based on the fact that he worked and filed taxes in 2019.  In 2021 he only worked a little bit, so my husband and I are claiming him as a dependent for 2021, though he is filing his own tax return.  My husband and I received $2800 in the 3rd stimulus, but because we are claiming our son as a dependent in 2021 Turbo Tax thinks we should have gotten $4200, which is not correct since our son got his own stimulus payment in 2021.   We are doing his taxes and Turbo Tax is not giving us a prompt for entering his stimulus check information.  I can only assume it is because he is considered a dependent on someone else's return.  I am at a loss as to how to handle this.  

[DoninGA]

@olycher You are eligible for the $1,400 Recovery Rebate Credit on your 2021 tax return since you are claiming your son as a dependent on your 2021 tax return.  It does not matter that he already received the $1,400 3rd stimulus payment based on his 2019 return.

He would not be eligible on his 2021 tax return since he is being claimed as a dependent.