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Level 3
August 28, 2020
Question

Parents of two adult children received $1,200 stimulus x 2. Kids got 0 as dependents. Kids will not be on Parent's 2020 return. $1,200 credit for each child in 2020?

  • August 28, 2020
  • 1 reply
  • 10 views
Should the adult children, 23 and 26 who won't be dependents of parents for 2020 get a credit for not getting the $1,200?
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1 reply

PhoebeRoberts
Intuit Community Champion
August 28, 2020

Worry about the 2020 returns when we actually have 2020 returns to prepare.

In theory, the true-up process on the 2020 returns will result in each of the adult children getting whatever credit they're entitled to for 2020, with no reduction for a 2019 advance payment. Which might be $1,200 each, but no good comes from counting those chickens now.