stimulus

14 replies
74 views

My clients son was 16 in 2019 so they received $500 on the first stimulus for him. Now he is over 18 and filing as single claiming himself, will he get the $1200 or $700 on the recovery rebate

ProSeries Professional

This topic has been closed for replies.

T

TaxGuyBillAnswer

As was pointed out above, is he ELIGIBLE to be claimed as a dependent? It seems very likely that he is. If that is the case, the kid does NOT qualify for the credit.

Just-Lisa-Now-

Intuit Community Champion

Yes, but are you sure he doesn't qualify as a dependent of his parent anymore? Does he provide more than 50% of his own support?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

BobKamman

Level 15

How did he go from being 16 in 2019 to being over 18 in 2020?

A lot of parents are helping their kids with this scam. Time will tell if IRS catches up with them.

Just-Lisa-Now-

Intuit Community Champion

Must have had a birthday early 2021 and no131 isnt taking into account that in 2020 he was still 18

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

qbteachmt

Level 15

Perhaps it would help to review what is really happening:

The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.

If the person is not a dependent in 2020, then they would be entitled to the payment/credit as individual filers. That doesn't mean "not being claimed." It means "no longer qualifies as a dependent."

You might want to bookmark these links and read the IRS guidance.

Interactive wizards portal for determining dependency:

https://www.irs.gov/help/ita

And:

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility

https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility

One for each EIP.

Don't yell at us; we're volunteers

N

no1031Author

Level 2

ok so go for the full 1200 recovery on his return even though the parents received a 500 stimulus for him a year ago (based on 2019's) I didn't know if they were doing a SS# cross reference

T

TaxGuyBillAnswer

As was pointed out above, is he ELIGIBLE to be claimed as a dependent? It seems very likely that he is. If that is the case, the kid does NOT qualify for the credit.

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