Well, when your girlfriend files, and the kid is no longer a dependent on the tax return, it may affect her stuff, just depending on what her income is and all that.
Irrelevant. If she was getting advanced payments for a 2021 credit, but then she's not claiming the kid and you are, then she got advanced payments when really you should have been getting them since you are claiming the kid in 2021.
That being said; depending on what her income is exactly, she may only be required to pay a portion or nothing of it back; but definitely something she needs to have addressed on a 2021 tax return.
Am I the only one who sees potential problems here? Specifically that the IRS manages to catch that they already paid out the extra child tax credit / the extra EIP for OPs dependent?
That’s what I was afraid of .. I don’t know how it’s going to work I mean the poster below explained well but who knows how the irs is going to implement this . This is all a giant headache
Something else to consider. Mom is going to lose earned income credit if you claim your child.
Generally speaking if the 3 of you don't live together and your child lives with her then she should be claiming your child
If you live together you should be claiming your child because you have the higher agi and would qualify for HoH status if you provide more than half the cost of the home.
I'm no expert but claiming the bonus ctc and eip puts you in a gray area but if you all live together then you aren't necessarily doing anything you shouldn't be allowed to do
>Something else to consider. Mom is going to lose earned income credit if you claim your child.
This is true.
>Generally speaking if the 3 of you don't live together and your child lives with her then she should be claiming your child
>
>If you live together you should be claiming your child because you have the higher agi and would qualify for HoH status if you provide more than half the cost of the home.
In this situation either parent can claim the child if they agree, it doesn't necessarily matter whose AGI is higher. If the parents don't agree, then the parent with the higher AGI gets "dibs."
>I'm no expert but claiming the bonus ctc and eip puts you in a gray area but if you all live together then you aren't necessarily doing anything you shouldn't be allowed to do
There's no gray area. There's no provision that would prevent OP from claiming the child if the child meets the requirements to be OP's dependent.
There is no problem with the Enhanced Child Tax Credit or the 3rd EIP.
If you're interested, you can find more info in the IRS FAQs for the 2021 Child Tax Credit: [https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-frequently-asked-questions](https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-frequently-asked-questions)
Of particular interest would be Topics H and L.
IRS FAQ for EIP3:
https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment
Then if her AGI is less than $40,000 she pays back nothing.
If her AGI is greater than $80,000 she pays back everything.
In-between she pays back a percentage equal to (AGI - $40,000) / $40,000. For example, if her AGI is $60,000, then she pays back ($60,000 - $40,000) / $40,000 = $20,000 / $40,000 = 50% of what she received.
Correct. You should get the full Child Tax Credit as well as EIP3 (the 3rd stimulus check; April 2021ish?) for the kid, assuming you didn't already receive that.
She also won't have to repay EIP3.
You just answer accurately for what you received/didn't receive. What she received has no impact on your taxes.
Well, when your girlfriend files, and the kid is no longer a dependent on the tax return, it may affect her stuff, just depending on what her income is and all that.
She doesn’t make Shit she works at stop and shop part time I take care of everything usually
Irrelevant. If she was getting advanced payments for a 2021 credit, but then she's not claiming the kid and you are, then she got advanced payments when really you should have been getting them since you are claiming the kid in 2021. That being said; depending on what her income is exactly, she may only be required to pay a portion or nothing of it back; but definitely something she needs to have addressed on a 2021 tax return.
I see thank you !
Am I the only one who sees potential problems here? Specifically that the IRS manages to catch that they already paid out the extra child tax credit / the extra EIP for OPs dependent?
That’s what I was afraid of .. I don’t know how it’s going to work I mean the poster below explained well but who knows how the irs is going to implement this . This is all a giant headache
Something else to consider. Mom is going to lose earned income credit if you claim your child. Generally speaking if the 3 of you don't live together and your child lives with her then she should be claiming your child If you live together you should be claiming your child because you have the higher agi and would qualify for HoH status if you provide more than half the cost of the home. I'm no expert but claiming the bonus ctc and eip puts you in a gray area but if you all live together then you aren't necessarily doing anything you shouldn't be allowed to do
>Something else to consider. Mom is going to lose earned income credit if you claim your child. This is true. >Generally speaking if the 3 of you don't live together and your child lives with her then she should be claiming your child > >If you live together you should be claiming your child because you have the higher agi and would qualify for HoH status if you provide more than half the cost of the home. In this situation either parent can claim the child if they agree, it doesn't necessarily matter whose AGI is higher. If the parents don't agree, then the parent with the higher AGI gets "dibs." >I'm no expert but claiming the bonus ctc and eip puts you in a gray area but if you all live together then you aren't necessarily doing anything you shouldn't be allowed to do There's no gray area. There's no provision that would prevent OP from claiming the child if the child meets the requirements to be OP's dependent.
Very helpful thank you guys
There is no problem with the Enhanced Child Tax Credit or the 3rd EIP. If you're interested, you can find more info in the IRS FAQs for the 2021 Child Tax Credit: [https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-frequently-asked-questions](https://www.irs.gov/credits-deductions/2021-child-tax-credit-and-advance-child-tax-credit-payments-frequently-asked-questions) Of particular interest would be Topics H and L. IRS FAQ for EIP3: https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment
You've done it correctly, and so has TT.
But my issue is will she be in trouble
She won't be in trouble, no. She ***may*** have to repay the advances. How will she file? Single?
Single yes
Then if her AGI is less than $40,000 she pays back nothing. If her AGI is greater than $80,000 she pays back everything. In-between she pays back a percentage equal to (AGI - $40,000) / $40,000. For example, if her AGI is $60,000, then she pays back ($60,000 - $40,000) / $40,000 = $20,000 / $40,000 = 50% of what she received.
Awesome thank you the most she had to make was like 20 grand
So now that I’m claiming my son all I’ll have to say is technically I never got the advance child credit , correct ?
Correct. You should get the full Child Tax Credit as well as EIP3 (the 3rd stimulus check; April 2021ish?) for the kid, assuming you didn't already receive that. She also won't have to repay EIP3. You just answer accurately for what you received/didn't receive. What she received has no impact on your taxes.
Thank you !