GraceNY Posted February 26, 2021 Report Share Posted February 26, 2021 Is this correct? Unmarried taxpayers. Mother claimed dependent on 2018 tax return. Received EIP #1 of $ 1,700 ($1,200 + $500). Mother received EIP # 2 of $600. Father claimed dependent on 2019 return and I don't know what if any EIP #1 or EIP #2 he got as I don't do his return. Mother is claiming dependent on 2020 return and ATX is computing a $600 EIP #2 for the dependent. It just seems like a double dipping on the $600 EIP #2 for the dependent. Thanks in advance for your input. Grace Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 26, 2021 Report Share Posted February 26, 2021 It's a 2020 credit that you calculate on the 2020 return. EIP1 and EIP2 were just advances on that credit to get funds to taxpayers and into the economy as fast as possible. If your client (or the one who is not your client) received too much, they do NOT have to pay it back. If they received too little, it's now a 2020 credit. Yes, a family that alternates years claiming a dependent will get too much as a whole, but they are not whole. Just make sure your client gets her correct 2020 credit. And, contact your Congresspeople if you have concerns, because they're voting on EIP3 now! 3 Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 26, 2021 Report Share Posted February 26, 2021 Claim $600 for child EIP #2. 2 Quote Link to comment Share on other sites More sharing options...
GraceNY Posted February 26, 2021 Author Report Share Posted February 26, 2021 Thank you Lion and Pacun. FYI: Looks like their going to tighten up things in EIP #3: My understanding of the proposed 2021 stimulus payments in the House bill includes language that says that an individual is not taken into account more than once, including by different taxpayers and including by reason of a change in joint return status or dependent status between the taxable year for which an advance refund amount is determined and the taxable year for which a credit is determined. Grace 3 Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 26, 2021 Report Share Posted February 26, 2021 1 hour ago, GraceNY said: Thank you Lion and Pacun. FYI: Looks like their going to tighten up things in EIP #3: My understanding of the proposed 2021 stimulus payments in the House bill includes language that says that an individual is not taken into account more than once, including by different taxpayers and including by reason of a change in joint return status or dependent status between the taxable year for which an advance refund amount is determined and the taxable year for which a credit is determined. Grace I have a lot in my plate now. Can you hold that thought for me until January 2022 please? 1 3 Quote Link to comment Share on other sites More sharing options...
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