When I filed taxes in 2019 I filed married jointly with 2 dependents. The first stimulus we only got $2,900 and was shorted $500. Second stimulus we got $1,800 and was shorted $600. This year I'm filing single with no dependents as I have agreed to let my ex claim them. But because I'm filing single and no dependents this year, turbotax isn't calculating the recovery rebate correctly is saying we got the correct amount?
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you received the correct amount.
Understand that the stimulus payments were just ESTIMATES of what you were due based on your 2019/ 2018 tax return.
What you are ACTUALLY due is based on your 2020 tax return (income, filing status, etc.)
the Recovery credit is the ACTUAL less the ESTIMATE, but not less than zero.
So YOU received enough stimulus..... YOU ACTUALLY received $1200 and $500, and you are not due anymore. YOUR ESTIMATE was $1200 and $500
Your ex ACTUALLY received $1700 and $1200....when she files her taxes, the recovery credit on Line 30 should reflect $1100
the critical part to understand is that it's all really based on 2020 tax return
I'm still a little confused. When the first round of stimulus went out we should have gotten the $2400 for us and another $1000 for having 2 dependents. But we only got a total of $2900 meaning we were shorted a dependent. Same exact thing happened with the second stimulus. Now because we are not filling married and 2 dependents, turbo tax is not giving any recovery rebate credit where due.
The amount that was shorted will be added to the 2020 return form 1040 line 30 on the return where the children are being claimed. So if you are not claiming them then you will not see it... the parent claiming both children (who must be under the age of 17 as of 12/31/2020) will get the missing money.
@rebeccagriffith338 - how you filed in 2018/2019 is immaterial to the equation, Is that what is hanging you up? That you filed married-joint in 2019/18 does not matter. Please go back and read by repsonse about the estimates and the actual
these stimulus payments were what is called 'an advance payment for 2020'. it's all about 2020. In 2020 you were single with no dependents so your stimulus is based on that set of facts. You received $1800 which is all you are entitled to as a single taxpayer.
your ex who is also claiming the children this year is entitled to $1200 + 500 + 500 + 3* $600 or $4000 and only received $2900, so THAT person will get $1100 on Line 30 of Form 1040.
Why do YOU think you are entitled to the $1100????? your question is always about 'we', but since you are filing single this year, the question should be about "me"; there is no longer a 'we' for 2020.
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