Child tax credit and stimulus

[Joker8]

Hi All,

My Wife and I had our first child in Oct 2020. I was under the impression since we qualified for the full amount of the stimulus check that he would be getting a tax credit of $500, $600, and $1400. However I am not see where I am able to claim this or enter this information. Also I thought child tax credit normally is $2000 for a child under 17, but it showed that I am only eligible for $500. if anyone can please help it would be much appreciated. 

Thank you 

[DoninGA]

In the My Info section of the program you need to change the length of time your child lived with you.  A child born in 2020 should be entered as living with you for the Whole Year.  Also, check the date of birth of the child is entered correctly using the format of MM/DD/YYYY, where the year is entered as 2020.

[xmasbaby0 · Accepted solution]

Did you say that your child lived with you the whole year?   You have to say that for a new baby to get the child-related credits.   And did you enter her Social Security number?   You need her SSN to get the CTC and/or stimulus money for your child.

Children born in 2020 were not included in the 1st stimulus because those checks were based on 2018 or 2019. No one got stimulus money for babies born in 2020 because the IRS did not know about those babies or have their SSN’s. But on your 2020 tax return you can claim your child born in 2020 for the stimulus money, as well as the other child-related credits.  You enter your new dependent in My Info.  When you go through the screens in My Info make sure to say your child lived with you the WHOLE year.  When it asks the oddly worded question about whether your child paid for over half their own support say NO.

The stimulus check is an advance on a credit you can receive on your 2020 tax return.  If something went wrong or you did not get the stimulus check in 2020, you can get it when you file your 2020 return in early 2021

The Recovery Rebate Credit will be found in the FEDERAL REVIEW section. ( you should see "Let's make sure you got the right stimulus amount”)  If you are eligible it will end up on line 30 of your 2020 Form 1040.

Make sure that you enter ALL of the stimulus money received for the 1st and 2nd stimulus for yourself, your spouse and your children.

https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-j-reconciling-on-your-...

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

[Joker8]

Thank you marking he lived with me the whole year solved most of the issues. I received the $2000 child credit and $1100 stimulus credit. I was under the impression there would be another $1400 he would be eligible for. 

[xmasbaby0 · Accepted solution]

There is no place to put anything about the third stimulus on a 2020 tax return.   You might get the $1400 for him after the IRS processes your return.  They are sending out those checks in phases.   Until they get your  2020 return he is not even on their radar.

[Joker8]

Thank you for the help!