We had a baby boy in March of 2020. My wife says that she sees a lot of posts on social media saying we can get a 2019 stimulus for that baby. It does not seem possible to me. She is telling me that we need to file a 1040X for 2019 and add the baby to it. Is she correct?
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No your spouse is incorrect. There is no reason to amend your 2019 return. You cannot claim a child born in 2020 on a 2019 tax return.
Children born in 2020 were not included in the 1st stimulus because those checks were based on 2018 or 2019. But on your 2020 tax return you can claim your child born in 2020 for the stimulus money, as well as the other child-related credits. You enter your new dependent in My Info. When you go through the screens in My Info make sure to say your child lived with you the WHOLE year. When it asks the oddly worded question about whether your child paid for over half their own support say NO.
The stimulus check is an advance on a credit you can receive on your 2020 tax return. If something went wrong or you did not get the stimulus check this year, you can get it when you file your 2020 return in early 2021—if you are eligible.It will end up on line 30 of your 2020 Form 1040.
https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859
We know that the IRS is already revising the 2020 Form 1040 to include the 2nd stimulus, but that change will entail a lot of re-programing at the IRS and for the tax software programs. It may be at least a month — or longer— before the forms are changed. Do NOT be in a hurry to file your 2020 tax return until more is known. Give some extra time to the IRS and the software programmers so that the software can handle the new 2nd stimulus, so that you can get it all by filing ONE time. It is never a good idea to file too early; filing your 2020 return too soon may result in a lot of extra confusion that can be avoided if you wait and file a little later.
No your spouse is incorrect. There is no reason to amend your 2019 return. You cannot claim a child born in 2020 on a 2019 tax return.
Children born in 2020 were not included in the 1st stimulus because those checks were based on 2018 or 2019. But on your 2020 tax return you can claim your child born in 2020 for the stimulus money, as well as the other child-related credits. You enter your new dependent in My Info. When you go through the screens in My Info make sure to say your child lived with you the WHOLE year. When it asks the oddly worded question about whether your child paid for over half their own support say NO.
The stimulus check is an advance on a credit you can receive on your 2020 tax return. If something went wrong or you did not get the stimulus check this year, you can get it when you file your 2020 return in early 2021—if you are eligible.It will end up on line 30 of your 2020 Form 1040.
https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859
We know that the IRS is already revising the 2020 Form 1040 to include the 2nd stimulus, but that change will entail a lot of re-programing at the IRS and for the tax software programs. It may be at least a month — or longer— before the forms are changed. Do NOT be in a hurry to file your 2020 tax return until more is known. Give some extra time to the IRS and the software programmers so that the software can handle the new 2nd stimulus, so that you can get it all by filing ONE time. It is never a good idea to file too early; filing your 2020 return too soon may result in a lot of extra confusion that can be avoided if you wait and file a little later.
Thank you for replying. I knew she was not correct, but she keeps getting this advise from Facebook and TicTok and I needed to show her that it was wrong.
Now you can do the "told ya so" dance.....
Glad you asked here.....Facebook and other social media users manage to spread lots of misinformation to each other......
I value my life and safety too much to do any dance. But I agree that the amount of misinformation she is receiving is scary.
What if I already submitted my tax return on turbo tax, would i have to file an amendment or will the $1,100 be included in my return?
The correct amount will be included in your tax return (1) if included the baby and (2) entered the correct stimulus amount.
The $1,100 ($500 first payment and $600 second payment) Recovery Rebate Credit (stimulus) will be on Form 1040 line 30.
If you did not print or save a copy of your tax return, you can print/preview your taxes in your TurboTax account.
Learn how at How do I get a copy of a return I filed this year in TurboTax Online?
I’m going through the same thing and it’s frustrating. I had a baby in February of 2020 along with a college student who turned 17 in August of 2020. I got the the correct stimulus amount for me and my 17 year old but when I got to “Federal Review” it says I received the correct amount but I added my baby born in 2020 on there and still says I received the correct amount which isn’t true. So how do I get the $1,100 for my baby born in 2020 on TurboTax?
PS: Yes I put everything in correctly from SSN to my child living with me the Whole Year
The payments were an advance credit for 2020. 2019 information was used in sending out the payments since 2020 tax returns had not been filed at the point the stimulus payments were sent out. They are being reconciled when you do your 2020 return. In some cases, people may have been given a stimulus payment based on their 2019 dependents that did not qualify based on their 2020 dependents, and vice versa.
In your particular case, you received a stimulus for 1 qualified dependent based on your 2019 return. Now that you are filing your 2020 return, your son is no longer under age 17, so he does not qualify and you only have 1 dependent that qualifies (the baby). You received the stimulus already for 1 dependent.
Ok, so how do I receive the $1,100 credit for my baby born in 2020?
Yes. When you file your return, you will show your newborn as a dependent. This will automatically increase your stimulus amount for your child and add the difference to your refund or reduce your balance due, if applicable.
Children born in 2020 were not included in the first stimulus because those checks were based on 2018 or 2019. But on your 2020 tax return you can claim your child born in 2020 for the stimulus on the Recovery Rebate Credit worksheet, as well as the other child credits.
I am having the same, frustrating issue with trying to receive the recovery rebate credit. My wife and I had a child in November 2020. Turbo Tax has her as a dependent, yet I am not getting any stimulus $ (verified by looking on line #30 of 1090 form). I have a 2 year old daughter as well and received $1,800 in 2nd stimulus round. When turbo tax calculates everything it states I do not qualify for the recovery rebate credit... which is not true!
I have read several posts stating that when turbo tax asks " whether your child paid for over half their own support" then answer "No." I have never been prompted by this question! I have been asked if "I" support her, but not herself.
Any
Go back to My Info and click Edit by the baby. Make sure you select she lived with you THE WHOLE YEAR not just the number of months. A child born even on Dec 31 is considered to live with you the whole year. It even says that on the screen. Or you don't qualify for more based on your 2020 income.
Thanks for the advice...
I did put her down for living with us the entire year. My wife and I DO qualify for the stimulus based on our combined income. This is why this is so frustrating as I am answering everything correctly and still no stimulus $.
Are you claiming the 2 year old on this return too? Maybe her info is wrong. Or if you are not claiming her then it thinks you already got the right amount. I don't know what to do in that case. The Stimulus is really based on your 2020 return.
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