Skip to main content
Level 2
February 11, 2021
Question

Recovery Rebate Credit

  • February 11, 2021
  • 4 replies
  • 18 views

Client attained custody of her grandchild for all of 2020. 

Her stimulus payments were:

# 1 - $1200.00

#2 - $600.00

Now that the grandchild is her dependent ProSeries is calculating her stimulus payments should have been $1700.00 and $1200.00 giving her a recovery rebate of $1100.00 in her 2020 refund.

Is this calculation correct??

This topic has been closed for replies.

4 replies

IRonMaN
Level 15
February 11, 2021

Is there some reason why you don't feel it is correct?

Slava Ukraini!
Level 2
February 11, 2021

Logically, it makes sense if you compare it to a taxpayer having a baby in 2020.

Since this RRC is something new I was looking for other opinions.

IRonMaN
Level 15
February 11, 2021

It's been an interesting year with parents that alternate kids each year and all of that other fun stuff, but claiming the credit for a new kid isn't even close to being an issue.  As long as you enter the correct amounts received during the year for the clients, the software seems to be handling things just fine.

Slava Ukraini!