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You are eligible for the Recovery Rebate Credit on your 2020 tax return. The Recovery Rebate Credit is based on your 2020 tax return information only. As @HelenC12 mentions you were not eligible for the earlier stimulus payments based on your 2019 returns since were a dependent on someone else's return.
However, if you cannot be claimed as a dependent on someone's 2020 return, you are eligible for the Recovery Rebate Credit on your 2020 return.
The amount of the credit is based on the stimulus amounts in rounds one and two. So for a single filer you would be eligible for $1200 and $600 for a total of $1800. That credit would be reduced by any amounts you actually received in rounds one and/two. In your case that would be a zero reduction; so your credit would be $1800 on your tax return.
Here is a link with more information on the Recovery Rebate Credit. See question B2.
You aren't eligible to receive the stimulus payment if you were claimed as a dependent in 2019.
For additional information, see How will the second stimulus impact me?
That’s why I’m confused my return said I was eligible for the recovery rebate credit where I wasn’t claimed in 2020 and my federal return is $1,800 and I’m not sure how that works
My son was in the same situation. In 2019 I claimed him as a dependent. He did not receive any stimulus checks because of this 2019 filing status. In 2020 however he was an independent because he was no longer in college. When he filed his taxes using Turbo tax, it recognized that he qualified for $1,800 stimulus and this was considered a credit. He received a federal refund and an additional 1,800 due to the stimulus PPP programs.
No need to file any other forms, since you are getting this by filing your taxes.
You are eligible for the Recovery Rebate Credit on your 2020 tax return. The Recovery Rebate Credit is based on your 2020 tax return information only. As @HelenC12 mentions you were not eligible for the earlier stimulus payments based on your 2019 returns since were a dependent on someone else's return.
However, if you cannot be claimed as a dependent on someone's 2020 return, you are eligible for the Recovery Rebate Credit on your 2020 return.
The amount of the credit is based on the stimulus amounts in rounds one and two. So for a single filer you would be eligible for $1200 and $600 for a total of $1800. That credit would be reduced by any amounts you actually received in rounds one and/two. In your case that would be a zero reduction; so your credit would be $1800 on your tax return.
Here is a link with more information on the Recovery Rebate Credit. See question B2.
Thank you so much I’m new to all of this and this helped so much!
Thank you so much I’m glad he got his and my refund is being processed by the IRS hopefully everything works out
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