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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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- divorced parents alternating 'dependency' and the 2021 economic stimulus payment
divorced parents alternating 'dependency' and the 2021 economic stimulus payment
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Budmeister
Level 3
02-13-2022
08:43 AM
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Confused on this issue- divorced parents alternating 'dependency' and the 2021 economic stimulus payment -- can parent taking child as a dependent on 2021 form 1040 receive the stimulus payment of $1400 , even though the other parent took him as a dependent on 2020 return and received the stimulus $1400 payment in March 2021 ??
Thank for un-confusing me !!
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3 Comments 3
GodFather
Level 8
02-13-2022
09:02 AM
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I have not run across this issue and I'm not 100% sure, but I think the IRS uses the 2020 return to determine which parent is eligible to receive the stimulus and future credits. This is based on an article I found in Forbes but I would defer to someone else who knows for certain:
Budmeister
Level 3
02-13-2022
09:40 AM
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Thank you- but does anyone know of any IRS instructions or guidance on this issue.?
Appreciate all your thoughts
Terry53029
Level 14
02-13-2022
10:04 AM
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Just put what your client received on the letter from IRS, or if no letter have client open account on IRS.GOV, and check what the irs sent him/her. Don't worry about about who claimed who or when.
