ST Alpha - "Was your last filed tax return 2018? If so, kid was likely under 17 and you got the credit. That help at all? -- nm" (Reading a Post)

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In response to "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 " by oblique

Was your last filed tax return 2018? If so, kid was likely under 17 and you got the credit. That help at all? -- nm

Posted by MDH Apr 15 '20, 06:04

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Responses:

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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