I have joint custody and claimed 1/3 last year. Am I owed stimulus money for the other 2 and if so how do I include that info here? My ex earns too much to get the money

[birdgirl]

Recovery Rebate Credit: I have joint custody of my kids but we take turn claiming them. I claimed one of three last year so both Covid stimulus payments were for me and one dependent. My ex earns too much to get any stimulus money but claimed the other two kids last year. From what I’m reading I should be able to get the both stimulus checks for my other two dependents. $500 each for the first one and $600 each for the second totaling $2200. It doesn’t seem like turbo tax will allow me to input that in any way. Am I correct about being owed the money and if so how do I include that info here? Thanks!

Edit: I have confirmed that this is correct and even if he didn’t earn so much we could both get the money for all three kids. I’m just trying to figure out how to claim it here or if I have to switch to hr block since they seem to have this updated already. 

[NCperson]

note that Turbo Tax is not yet programmed for the 2nd stimulus payment - is that your problem

Forget everything from prior years..... the way this works is that the stimulus is calculated based on YOUR 2020 filing status, eligible dependents (they have to be under 17) and YOUR income.   Then it subtracts how much stimulus YOU received and what is left is owed to you.  You can't owe back if that number is less than zero.  The result will be on LINE 30 of Form 1040,.

When asked how much stimulus you have received only input the 1st payment at this time

does it work now?

[Hal_Al]

You do not get the stimulus for the other two children unless you claim them as dependents on your 2020 tax return..

That means the Ex has to NOT claim them on his 2020 return, and lose the $2000 (each) child  tax credit (assuming the kids are under 17).  The child tax credit phases out at a much higher income level (more than $200,000,  $400,000 Married) than does the stimulus payments. 

[Critter-3]

Depending on how much you make ... you and the ex should have some discussions this year about who should claim whom as there is a bit of "horse trading" to be had so you get the max legally allowed refund between you both.  

[birdgirl]

The other tax sites say each parent can now get both checks for children. I have confirmed on several reputable sites including hr block.  Just trying to figure out what I need to input here. 

[Hal_Al]

"The other tax sites say each parent can now get both checks for children". 

Yep, it's a giant loop hole.  But it only works if one of the parents has already been sent the $500 and/or 2nd $600 per child.  

Then the 2nd parent claims that child, as a dependent, on his 2020 tax return and gets another $1100 for the kid. Be sure that the 1st parent doesn't claim that child, as a dependent, on her 2020 return.

That is, you are not entitled to it. You  don't both get it automatically or get to apply for it. You have to finagle the system. 

[NCperson]

@birdgirl - @Hal_Al is correct - here is how it happens 

1) the PAYMENTS were only estimates based on 2018/2019 tax return (1st stimulus payment) and 2019 tax return (2nd stimulus payment)

HOWEVER, 

2) the EIP is based on your 2020 tax return only!!! 

A) if #2 is greater than #1 you get the difference on your 2020 tax return as a credit which can increase your refund. This is likely if you claim an additional child

B) if #1 is greater #2, you do not have to pay back the difference. this is likely if you DON'T claim a child in 2020 that you claimed in 2019. 

so work through a child of divorced parents who was claimed on dad's 2019 tax return but mom's 2020 tax return.  Dad's 2020 tax return would result in B) while Mom's 2020 tax return would result in A)... CHILD was on 2019 for Dad and on 2020 for Mom, so each parent gets $$$$ under the stimulus program - because there is no requirement to return money under any circumstance! (and Congress knew that when they passed the 2nd stimulus and close not to close the loophole)

make sense?