My spouse and I received both stimulus payments for 2020 based on ourselves and our 1st child from our 2019 tax information, but we had a 2nd child born in mid-2020. The Turbo Tax program asks if we got our payments so we clicked "yes," then it wants to double-check the amount received. We confirmed that we received what they say we received, so we clicked "yes" and "continue." They say, "We crunched the numbers and the amount you received looks right," but it's not accounting for our 2nd child born in 2020, who was correctly added under our "personal information." When we click, "Why am I not getting the Recovery Rebate Credit," it notes that we already received the full amount. Um, considering our 2nd child is not included, I would say that's inaccurate. How do I go about getting the Recovery Rebate Credit for our 2nd child since Turbo Tax says everything is fine?
Go back to My Info and make sure you said your baby lived with you the WHOLE YEAR and not just the number of months. Even a baby was born on Dec 31 is considered to live with you the whole year. You might have to delete the baby and re add him. Pay attention to the questions, especially the one asking if he paid more than half of his support.
How old is your first child? They have to be under 17 on Dec 31, 2020. Your stimulus check is based on the number of qualifying people listed on your tax return for 2020. You don't receive a check for the new baby necessarily, it is just based on the number of qualifying people listed on your return.
So, if you lost one qualifying person because they turned 17 and replaced that person with a new baby, you still just have one qualifying person.
Got it! We have a 2 year old and 8 month old. When I originally clicked the dropdown, I didn't see "whole year" as I didn't note the scroll bar on the side, the highest option I originally saw was "10." I went back and corrected it and now it's reflecting accurately. Thank you!