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Recovery rebate credit
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jamiemajni
Level 2
02-13-2022
05:41 PM
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Client is a 20 year old who was claimed as a dependent by his mother in 2020 and is filing single and not dependent in 2021. His mother received $1400 in 2021 for him for the EIP #3. For 2021, is he eligible for the $1400 since he did not recieve it? Or do I input mom's $1400 as received by him?
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qbteachmt
Level 15
02-13-2022
06:07 PM
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The IRS knows:
"If you were claimed as a dependent on someone else’s tax return for 2020, you were not eligible for the third Economic Impact Payment. If no one can claim you as a dependent for 2021 and you are otherwise eligible, you can claim the 2021 Recovery Rebate Credit, and must file a 2021 tax return to claim the credit."
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jamiemajni
Level 2
02-13-2022
06:13 PM
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Thank you. As I'm reading and how my software is calculating, they both receive $1400 for the son, since there is no payback on the overpayment to mom. Not really logical to me...but...
