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Posts: 156
In response to
"
Was your last filed tax return 2018? If so, kid was likely under 17 and you got the credit. That help at all? -- nm
"
by
MDH
Will they claw it back then? -- nm
Posted by
ty97
Apr 15 '20, 06:05
(No message)
Responses:
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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