Neum12345
Level 1
02-02-2021
09:28 AM
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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?
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Accountant-Man
Level 13
02-02-2021
09:34 AM
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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
Level 11
02-02-2021
09:36 AM
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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
Level 9
02-02-2021
11:33 AM
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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?