RECOVERY REBATE CREDIT

Neum12345 · ‎02-02-2021

I HAVE A FEW CLIENTS THAT HAVE A DEP. WHO BECAME 17 YEARS IN 20, THEY

RECEIVED THE STIMULUS MONEY FOR HER , CAUSE L.Y. SHE WAS STILL 16,

HOWEVER, THEY HAD A NEW BABY THIS YEAR, DO THEY LOOSE OUT THE

STIMULUS MONEY FOR ONE CHILD?

Accountant-Man · ‎02-02-2021

Please don't type in all CAPS. It's very hard to read.

** I'm still a champion... of the world! Even without The Lounge.

TAXOH · ‎02-02-2021

Since it was an advance and the recovery rebate is based on the 2020 tax return the 17 year old wouldn't qualify but the new baby does. Since they already received it for the 17 year old and really shouldn't have it counts towards the new baby.

The-Tax-Lady · ‎02-02-2021

If no repayment is required, except for deceased individuls, wouldn't the parents be eligible to claim the EIP for the new baby on the 2020,1040?

RECOVERY REBATE CREDIT

©1997-2026 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.