Recovery Rebate Credit

[rjay3220]

Just saw a pending deposit for the Third Stimulus and they used our 2019 filing. Will there be a recovery rebate for the third stimulus payment ? We had a child in 2020 but when doing our 2020 taxes in turbo tax I only see options for the first two stimulus for the recovery rebate to claim. Thinking of waiting to file or will the third stimulus recovery credit be used in 2021 taxes filing in 2022.

[ThomasM125]

The third stimulus payment will be calculated based on your 2020 tax return.

[rjay3220]

I haven't filed my 2020 taxes yet. 

[JotikaT2]

Your stimulus payment will be calculated based upon the latest tax return filed, or in your case, your 2019 tax return.

 Please see the link below for more guidance as it relates the third stimulus payment.

IRS information on third stimulus payment

[rjay3220]

I understand that part but how do I claim my son in the recovery credit since he was born in 2020. I see the option for first and second stimulus but not the third.

[JotikaT2]

The IRS has not issued guidance on that yet.  The latest guidance was provided in the link above. 

I recommend checking the following link with the IRS directly as it will be updated with the latest information as more guidance is provided.

Frequently asked questions for 2021 Economic Impact Payments