Stumules check

Report what you got. It is important to distinguish between the child not being claimed as a dependent even though they could be claimed, from a child who is filing a return who no longer can be claimed. If the child can no longer be claimed they will get the $1400. In they could be claimed they must indicate on their return that someone else can claim them in which case they would not get the stimulus payment. 

You likely received two IRS Letter 6475 and each one reflected $2,100 for the third stimulus check.  Your 2021 Federal 1040 tax return should report $4,200.  You enter the Advance Child Tax Credit payment amounts at the screen Tell us about any Advance Child Tax Credits.  Make sure that you enter the correct amount received.

This IRS FAQ states:

There is no provision in the law that would require individuals who qualify for a Third Economic Impact Payment or an additional payment based on their 2020 or 2019 information, to pay back all or part of the payment if, based on the information reported on their 2021 tax returns, they would have qualified for a lesser amount.

The child may or may not qualify for the third stimulus payment.  If the child qualifies for the payment, it will be through a Recovery Rebate Credit found on line 30 of their 2021 Federal 1040 tax return.

The qualifications for the third stimulus payment are: 

• you were a U.S. citizen or U.S. resident alien in 2021,
• you were not a dependent of another taxpayer’s 2020 tax return, and
• you have a Social Security number. 

There are income limitations are if your adjusted gross income (AGI) is more than: 

• $150,000 if married and filing a joint return or filing as a qualifying widow or widower
• $112,500 if filing as head of household or
• $75,000 if filing as a single or as married filing separately.