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Get your taxes done using TurboTax
Thanks-I think I understand what you are saying. If I may try to clarify.
My 19 y/o son should earn approx $15,000 for the 2000 tax year. Thus he will not be a 2020 dependent for me and will file on his own. For 2020 tax year you are saying he should have the $1200 credit there (Section 6428). And if he does not get the stimulus check "now", he will keep that credit.
I understand as a parent I will report my stimulus check on my 2020 return. By receiving it now I will effectively cancel out the Sec 6428 credit. Right?
Thank you very much. If so I plan to keep him as a dependent on 2019 return for the $500 dependent credit and he should get the full 1200 through filing next year on his own.
April 15, 2020
10:55 AM