Recovery Rebate

Forum|Forum|5 years ago
February 1, 2021
7 replies
50 views

Needing some help on the Recovery Rebate. Client was a dependent on their parents return last year. Therefore, they did not receive the first nor second stimulus payment. This year, they are no longer a dependent. When entering lines 16 and 19 it's calculating an $1,800 refund. Are they allowing the no- longer dependents to recover both stimulus payments then?

ProSeries Professional

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Best answer by TAXOH

Yes.

TAXOHAnswer

Level 10

Yes.

C

CRM2182Author

Level 5

Thanks!

TAXOH

Level 10

You're welcome.

qbteachmt

Level 15

"allowing the no- longer dependents to recover both stimulus payments"

See if this clarification helps you understand it better, because that isn't what happened.

They got Advanced Funds against a Projection of what 2020 would look like. But the advances are based on 2019 or 2018 tax forms. The 2020 tax info is the Actuals info used to reconcile what you are qualified to get against what you already got paid to you.

Don't yell at us; we're volunteers

C

CRM2182Author

Level 5

So if the parents did not get the additional stimulus payments because the child was 23 and a college student nor did he then he can claim on this years taxes that he did not receive them since he is not a dependent now and receive the 1800 as a refund?

TAXOH

Level 10

Correct

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