Do I still qualify to receive the third stimulus rebate if my parents got it because I was a dependent in 2020, but in 2021 I cannot be claimed as their dependent?

[sclofgren]

My parents claimed me as a dependent in 2020, but cannot in 2021 because I am not a full time student any more and make over the allowed amount.  They said that they think they received the third $1400 stimulus payment for me because they got more than TurboTax said they should get, but now that I am not filing as a dependent for 2021, TurboTax says that because I did not receive a stimulus check I qualify for the recovery rebate.  Is this true or if I claim this rebate will this mess up my parents taxes for what they were already sent in stimulus payments?  I don't want to mess up my parents taxes, but I don't want to miss out on the rebate if I really do qualify.  How do I find out if I can claim this rebate?

[MinhT1]

Yes, it is true that you are eligible for the Recovery rebate credit of $1,400 if you are not a dependent of your parents in 2021.

In TurboTax Online, to claim the Recovery Rebate credit please do the following: 

1. Sign into your account and continue from where you left off 
2. Click on Federal in the left-hand column, then on Federal Review on the top of the screen
3. On the next page titled Did you [or your spouse] get a third stimulus payment?, answer No
4. Follow the interview and answer all questions
5. TurboTax will determine whether you are entitled to any additional stimulus
6. Any stimulus amount remaining due to you will show as a credit on line 30 of your form 1040.

Please read this TurboTax Help topic for more information on the third stimulus.

Your parents do not have to repay your share of the stimulus that they received in 2021. This will not mess up their situation at all. This is how the tax law was written.