Stimulus Double Check and Dependent

[jannster]

Our first Stimulus, my twins were 16.  We received $500 for each of them ($1000), and a reduced due to income $1503 for my husband and I.  Totaling $2503.  On the double check in the app it's saying we should've received $2400.

Now the kids are 17 and I'm assuming that it's not adding in a stimulus for the kids and that's why it's saying we should've received only $2400.

My question is, on the double-check, do I put in the total of $2503 for my husband, myself, and the kids?  Or do I deduct the $1000 for the kids?  I'm really confused.  

Also - we never received anything for the kids on the 2nd Stimulus because they turned 17 in the summer.  The app is saying we should've received $1200 on the second, but we only received $116.

[xmasbaby0]

Simple----you enter the amount that represents every cent of stimulus money you received. for the first two checks.     Your children are listed on your 2020 tax return with their dates of birth.   The software will figure out how much --if anything-- you should still receive as a recovery rebate credit.    If your kids turned 17 in 2020 you do not get stimulus money for them.    The criteria for getting the first and second EIP payments followed the same rule as the child tax credit for 2020----you do not get the child tax credit for the tax year in which a child turned 17 and you do not get stimulus money #1 or #2 for a child who turned 17 in 2020.    (If you got money for them last year you do not have to pay it back.)

The rules are different for the 3rd stimulus---age will not keep you from getting stimulus check #3 for the 17year olds.   But there is no place to enter anything on your 2020 return about the 3rd stimulus check.   You just have to wait for the IRS to issue it on its own timetable.

And.....if your income was too high then your stimulus would be reduced accordingly as well.   The criteria for receiving the first two EIP payments as a recovery rebate per the IRS:

A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:

• $150,000  if married and filing a joint return
• $112,500 if filing as  head of household or
• $75,000  for eligible individuals using any other filing status
  Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above.

You are not eligible for a payment if any of the following apply to you:

• You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
• You do not have a Social Security number that is valid for employment.
• You are a nonresident alien.
  The following are also not eligible: a deceased individual or an estate or trust.

[VolvoGirl]

Sounds like your 2019 income was high and you got reduced 1st & 2nd Stimulus payments.  Enter the amounts you actually got 2503 and 116 in the 2 boxes.  Sounds like you can qualify for more based on your 2020 income.  Is your income less than last year?  So you can get the difference now.