I share custody with my child’s other parent and we take turns claiming as a dependent, each year. My stimulus payment was based on the year I claimed a dependent. Will the $500 be deducted from

My 2020 refund, when the other parent claims a dependent for 2020?

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IRS has stated that any stimulus payment you get will never be clawed back for any reason.

your stimulus payment is based on the year you claimed a dependent only if you have not e-Filed for 2019 yet.

Never mind, I see you are claiming the exemption for 2019.

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