Third Stimulus Rebate

[johnsantaclara1]

Hi there, I was a full time student until June 2021. My mom had claimed me as dependent in her 2020 tax return which is probably why I did not  receive any stimulus checks. But she is not claiming me as dependent on her 2021 tax return.  (I started a job as an IHSS live-in provider from Dec 2021, but my income is not taxable so I received a W2 with 0 in most of the boxes.  I only got dividends of around $15k from my stocks gifted to me my mom. No other income in 2021 )

Now when I file my 2021 taxes, Turbo tax says that I am eligible for Recovery Rebate Credit of $1400.

Does this sound right or am I making any mistake in Turbo Tax entries? Thank you.

[MayaD · Accepted solution]

Yes.  If you cannot be claimed as a dependent on someone else's return for the 2021 tax year, you may be eligible to claim the Recovery Rebate Credit on a 2021 tax return as long as all other eligibility requirements are met.

Generally, someone was eligible for the full amount of the third Economic Impact Payment if they:

• are a U.S. citizen or U.S. resident alien (and their spouse if filing a joint return), and
• are not a dependent of another taxpayer, and
• had adjusted gross income (AGI) that is not more than:
  • $150,000 if married and filing a joint return or if filing as a qualifying widow or widower
  • $112,500 if filing as head of household or
  • $75,000 for any other filing status