Jump to content
ATX Community

Recovery Credit


Randall

Recommended Posts

I know there have been a lot of posts on this topic. I tried looking back to find my issue.

Client divorced in 2008. He gets to claim all three children for 2008. The IRS site is showing a $1500 stimulus payment. The site says if his filing status is something other than married joint, use $750 to calculate his recovery rebate credit for 2008? This calculates to $1500 minus $750, giving him another $750. Am I missing something.

I know if the couple was already divorced, each might end up getting the amount for the same child in the two different years, but this one seems a little different.

Link to comment
Share on other sites

I know there have been a lot of posts on this topic. I tried looking back to find my issue.

Client divorced in 2008. He gets to claim all three children for 2008. The IRS site is showing a $1500 stimulus payment. The site says if his filing status is something other than married joint, use $750 to calculate his recovery rebate credit for 2008? This calculates to $1500 minus $750, giving him another $750. Am I missing something.

I know if the couple was already divorced, each might end up getting the amount for the same child in the two different years, but this one seems a little different.

If he filed married joint for 07, then the $1500 rebate check they recieved jointly is split among the two spouses. If he files as single or HOH for 08, one half of the $1500 rebate is considered received by him. So he would qualify for additional credit of he can claim the three kids again this year.

Link to comment
Share on other sites

In that same vein, my client filed MFJ, no dependents in 2007. Received the $1200. In 2008 they have 2 dependents. I can't remember if I tried to fill out the worksheet for the recovery rebate credit or not but she just called and said their refund was $600 higher than I had told them. The credit is the only thing I can think of that would change that but when I tried to use the worksheet today to check this out it kept telling me I was over-writing.

I am assuming the IRS computed the credit but don't know that for a fact. Makes me wonder. MM

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...