ST Alpha - "That's why I don't understand our amount. We got $1100 in ours but were pretty close to the top end plus our kid turned 17 in December which I " (Reading a Post)

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In response to "If it helps, it's phased out after $75k, and really no check if over $99k. -- nm" by MDH

That's why I don't understand our amount. We got $1100 in ours but were pretty close to the top end plus our kid turned 17 in December which I

Posted by oblique (aka kkuphal) Apr 15 '20, 06:00

thought excluded them. I'm guessing we snuck in under the wire for the $500 or $600 for the kid and then the remainder was the phased out amount. If we didn't get the kid part, the total makes no sense.

Responses:

Was your last filed tax return 2018? If so, kid was likely under 17 and you got the credit. That help at all? -- nm - MDH Apr 15, 06:04 9
- Will they claw it back then? -- nm - ty97 Apr 15, 06:05 8
  - My understanding, based solely on discussions here, is that there is no clawback - znufrii, stimulated Apr 15, 06:10 6
    - meaning the 2019 return? -- nm - Diva Apr 15, 06:12 5
      - The credit applies to the 2020 tax year. The advance payment of the credit which is being paid out currently is calculated based on 2019 or 2018. -- (edited) - znufrii, stimulated Apr 15, 06:15 4
        
        That's essentially what our tax person told us also and why we waited to file for 2019. I'll file now that I have the stimulus -- nm - oblique Apr 15, 06:18 1
        
        oh, I get it now. -- nm - Diva Apr 15, 06:25
        
        but we're only up to 2019 returns, yes? We won't file for 2020 until next year. -- nm - Diva Apr 15, 06:17 1
        
        Correct -- (edited) - znufrii, stimulated Apr 15, 06:19
  - Caveat, not providing tax advice (ha), and minimal individual experience, but my guess would be "no." More inside. - MDH Apr 15, 06:09

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That's why I don't understand our amount. We got $1100 in ours but were pretty close to the top end plus our kid turned 17 in December which I

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