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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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For pretty much the first time ever, 2020 allows for double dipping. What a screwy year.
Slava Ukraini!
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Screwy indeed!!!
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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.
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But I like to stay in that box - it's safe and warm.
Slava Ukraini!
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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.
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Nobody would have received money for Johnny if they had claimed him as a dependent because he was over 16.
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IRS made a mistake. They admitted it -- you must have been in the bathroom.