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Level 2

Question

Second Stimulus Child Credit

Forum|Forum|5 years ago
January 23, 2021
3 replies
13 views

I received a reduced amount on the stimulus based on income. However I have two children and I was under the impression I would see the additional $600/per child. Is there something I am missing?

Thanks

Not A Product Question

Level 14

It depends. When the stimulus payment is reduced because of exceeding the income thresholds, each eligible person's payment will be reduced. The reduction is $5 for every $100 above the threshold based on your filing status.

If income is above the following amounts, the payment will be reduced pro rata.

Individuals: $75,000

Heads of Household: $112,500

Married, filing jointly: $150,000

For more information, see How will the second stimulus impact me? or How can I check on my second stimulus payment?

In TurboTax, the stimulus payment section is at the end of the Other Tax Situations.

To return to this area of your return, follow these steps:

From inside your return, click on Other Tax Situations that is listed as the third tab from the left toward the top of your screen.
Scroll to the end of this page and in the lower right corner, click Let's keep going.
Be sure that an amount is entered for each stimulus (or zero) so that the calculation is correct.

Level 2

So the child credit is not independant this round? I thought in the first round it was provided to all children that qualified.

Level 14

The child portion of any economic income payment is now related to income, but it was calculated differently in the first stimulus payment, correct.

For more information, go to IRS Questions and Answers about the Second Economic Impact Payment

To know what stimulus amount to expect, enter your details in a second stimulus calculator at How can I check on my second stimulus payment?

The tax return is where this will be reported. Any stimulus payment balance owed that has not been received will count to your benefit.