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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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- Claiming Recovery Rebate Credit for a child
Claiming Recovery Rebate Credit for a child
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mlthomas26
Level 3
02-26-2022
07:43 AM
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If a client claim one child in 2020 due to divorce agreement and they got the $1400 stimulus check for that child. In 2021 they can't claim that child but had a new baby in 2021. How do I get the $1400 for the new baby? In ProSeries it looks like they got the credit for the baby but that was for the child they could not claim this year.
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Just-Lisa-Now-
Level 15
02-26-2022
07:45 AM
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If they already got the full amount of stimulus advanced that they are entitled to based on their 2021 situation, there is no more to get.
They got the EIP for one child, theyre claiming one child on the return...theyve got nothing more coming.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
They got the EIP for one child, theyre claiming one child on the return...theyve got nothing more coming.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
qbteachmt
Level 15
02-26-2022
01:19 PM
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"In ProSeries it looks like they got the credit for the baby but that was for the child they could not claim this year."
It might help to understand how to think of it properly.
They got an advanced payment for EIP #3 against a projection that they would be claiming 1 qualifying child on their 2021 tax return.
You are now reconciling what they qualify for, on that return, with what they got, for the year of that return.
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