Another Rebate Recovery question

[JML222]

In 2019 taxpayers claimed their over 17-year-old student daughter as a dependent. In 2020 the daughter is 100% self-supporting and no longer able to be claimed as a dependent, and has not received any EIP payments. What credits is she entitled to?

Thanks!

[jeffmcpa2010]

Scroll down the page about 6-7 lines, and you will see the exact same question.

Go a couple of pages and you will find it numerous times. Read some of those and you will find the answer.

[sjrcpa · Accepted solution]

OP could also fill out the Recovery Rebate Credit worksheet and see what happens.

[taxman6]

I believe $600 for EIP2 and potentially $1200 for EIP1.

Assuming all other income requirements are met of course and IF she was not eligible to be claimed as a dependent, even if she wasnt claimed

EIP3  $1400..refer to income requirements.

[qbteachmt]

@JML222 

There is no Splitting of 2020.

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.