Third Stimulus Payment

[cjhayes283]

Turbo Tax is asking for verification of the amounts of the first two stimulus payments. Shouldn't the third payment also be verified? 

[VolvoGirl]

No.  The 3rd one is too new.  Your 2020 return only reconciles the first two.

[NCperson]

they will ask next year...

the 1st two stimulus payments were an advance against 2020 tax return

the 3rd stimulus payment is an advance against the 2021 tax return. 

[cjhayes283]

Thank you. So, for new dependents born in 2020, you have to wait until 2022 to get the third payment?

[NCperson]

correct  -  if you don't get the $1400 for the newborn now, it'll shake out when you complete your 2021 tax return next year