Third Round of Stimulus Payments

[elvia_fiorella]

If a child was claimed in 2020 by one of his parents, and in 2021 he is economically independent and is filing his taxes for 2021, he can claim the third stimulus. 

[Bsch4477 · Accepted solution]

If he truly can’t be claimed as a dependent he is eligible for the stimulus payment on his 2021 return. The parents don’t have to repay the stimulus payment that they received. 

[ErnieS0 · Accepted solution]

Yes. A child who was a dependent in 2020 but independent in 2021 can receive a Recovery Rebate Credit on their tax return even if their parents got a third stimulus payment for the child last year.

The IRS says: "No longer a dependent: Individuals who were claimed or could be claimed as a dependent on someone else’s tax return for 2019 or 2020 may now be eligible if they can’t be claimed as a dependent on someone else’s tax return for 2021."

See: Q C2. Not Eligible for Third Economic Impact Payments: If I wasn’t eligible for a third Economic Imp...

The parents don’t have to pay the money back.