1645916
You'll need to sign in or create an account to connect with an expert.
no. it is not taxable income. on your 2020 return, there will be a calculation of the actual stimulus that you should have received. if it's your due more you get a credit (refundable). if you're overpaid you get to keep it without any tax consequences.
Income you received in 2020 would not be reported on a 2019 income tax return, no matter what income it was. And the stimulus check will not be taxable when you prepare your 2020 return next year, although you can expect there to be some questions about it when you prepare your 2020 return.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
anil
New Member
user17513306027
New Member
mjlee999
New Member
RicN
Level 2
CWP2023
Level 1