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Another Rebate Recovery question

JML222
Level 3

In 2019 taxpayers claimed their over 17-year-old student daughter as a dependent. In 2020 the daughter is 100% self-supporting and no longer able to be claimed as a dependent, and has not received any EIP payments. What credits is she entitled to?

Thanks!

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sjrcpa
Level 15

OP could also fill out the Recovery Rebate Credit worksheet and see what happens.


ex-AllStar

View solution in original post

4 Replies 4
jeffmcpa2010
Level 8

Scroll down the page about 6-7 lines, and you will see the exact same question.

Go a couple of pages and you will find it numerous times. Read some of those and you will find the answer.

sjrcpa
Level 15

OP could also fill out the Recovery Rebate Credit worksheet and see what happens.


ex-AllStar

View solution in original post

taxman6
Level 2

I believe $600 for EIP2 and potentially $1200 for EIP1.

Assuming all other income requirements are met of course and IF she was not eligible to be claimed as a dependent, even if she wasnt claimed

EIP3  $1400..refer to income requirements.

 

qbteachmt
Level 15

@JML222 

There is no Splitting of 2020.

Perhaps it would help to review what is really happening:

The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.

If the person is not a dependent in 2020, then they would be entitled to the payment/credit as individual filers. That doesn't mean "not being claimed." It means "no longer qualifies as a dependent."

You might want to bookmark these links and read the IRS guidance.

Interactive wizards portal for determining dependency:

https://www.irs.gov/help/ita

And:

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility

https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility

One for each EIP.

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