Question

Turbotax Stimulus Rebate

Forum|Forum|5 years ago
April 28, 2021
1 reply
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My son received the 2nd stimulus check in 2020 and the third in 2021. I believe he should have been eligible for the first and get a $1200 credit. When I initially did his taxes it asked the questions and said he would get a refund.

However, now I realized he has to do the Kiddie Tax and "can be claimed as my dependent for 2020". But I did not claim him as a dependent. Does that make him ineligible? It overrides his 2019 eligibility?

Hal_Al

Employee

Under the CARES Act, if you are claimed, or qualify to be claimed, as a dependent on someone else’s 2019 return you cannot receive a stimulus check, in 2020. If you qualified as a dependent for 2019, but will not be for 2020, you will most likely get it in 2021, when you file a 2020 tax return.

The reverse is not true. If your son did not qualify as a dependent on your 2019 return but did qualify on your 2020 return, he gets to keep the 2nd stimulus, he received. But, he does not get to claim the first $1200 stimulus. So, yes, it essentially overrides his 2019 eligibility.

"In essence, the stimulus check acts as an advance of your 2020 income tax refund. This means when you prepare your 2020 income tax return, there will be a line to include the section 6428 credit (line 30 on the 2020 form 1040). The credit on your 2020 return is subtracted by any amount received as a stimulus check in 2020. If the amount you received as a stimulus check is less than the credit you are due, the difference will be included as part of your 2020 refund. If you have been overpaid by receiving the stimulus check, however, you will not be required to return any excess amount".