child of divorced parent claimed (legally) on non-custodial parent (father) 2019 tax return and he got both stimulus payments of $500 and $600. In 2020, the custodial parent gets to claim the same child so will she be able to collect the same two stimulus payments for the same child on her 2020 tax return?
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IRS made a mistake. They admitted it -- you must have been in the bathroom.
For pretty much the first time ever, 2020 allows for double dipping. What a screwy year.
Screwy indeed!!!
Congress passed and the President signed a law that said if you claimed a kid for at least one out of two years, you got some money. What's screwy about that?
Try thinking out of the calendar-year box.
But I like to stay in that box - it's safe and warm.
It must be chilling to think of someone who got money for Johnny, age 22, because he was a student for four months and a day in 2019 -- and then Johnny qualifies for RR credit on his own 2020 return, when he made $75K with his engineering degree.
Why do people think the EIP's were for the kid? Did someone see checks made out to the kids? Anyone? Mr. Bueller? No, I didn't think so. The checks went to the adults. Some of them needed the money more than others, but they all had the option of sending it back.
Nobody would have received money for Johnny if they had claimed him as a dependent because he was over 16.
IRS made a mistake. They admitted it -- you must have been in the bathroom.
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