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My husband and I have not yet filed 2019 taxes. We did file in 2018, and just received our payment. It includes a $500 credit for my daughter, who we claimed as a dependent. The problem is that my ex husband has already filed his 2019 return, and also claimed her as it was his year to do so (we rotate). So, he also got paid with the $500 credit. How do we pay this back when we file our 2019 taxes?
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According to the CARES Act, you are not required to pay back if there is an overpayment of the stimulus.
When we file, will they catch that they over paid us and increase the amount we owe by $500?
You will file for the Stimulus payment only on your 2020 tax return (next year). And the law is clear on this point. There will be no repayment if there is an overpayment.
Is there something written that you can point me too that says that?
you are welcome to work through the Recovery Credit worksheet on page 58 of the attached.
if you look at lines 17 (1st stimulus) and 20 (2nd stimulus) , it says 'if less than zero, you don't have to pay back the difference'.
in other words, Line 30 of Form 1040 can never be negative
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf
is that what you are looking for?
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