Please bear with me while I clarify something for you first.
I let my mom claim me for 2019.
You the student don't get a choice on this. But the parent's do. Here's how the rules read basically.
If the student (that's you) did not provide more than 50% of their own support for the tax year, then the parents qualify to claim the student as a dependent on their tax return
Several things to note here. First, the key word in the above is "QUALIFY". So it doesn't matter if your parents actually claim you as a dependent or not. If they "qualify" to claim you, then you have *no* *choice* and must select the option for "I can be claimed on someone else's return" when you complete your own tax return. Again, it flat out does not matter if they actually claim you or not.
First, lets define "third party income" received by the student.
Third party income includes scholarships, grants, 529 distributions, money from mom and dad, gifts from Aunt Mary, etc.
Now there are only two possible ways that a student can provide more than half of their own support for the tax year, and both ways can be "cancelled out" by third party income.
1) If the student had a job or was self-employed and earned sufficient monies that they were actually paid in the tax year, to justify the student providing more than half their own support. In order words, self support can only be claimed against "EARNED" income that was earned by the student. Third party income is not earned income, by any stretch.
2) The student was the *PRIMARY* borrower on a *qualified* student loan, and sufficient money was distributed to the student during the tax year to justify that student providing more than half of their own support.
That's it; the only two possible ways that I student can provide more than half of their own support. However, both ways can be cancelled out by third party income. As an example, say you earned $100,000 in 2019. You also had $50,000 in third party income (Schoarships, grants, etc.) That would mean you would have to spend at least $50,001 of "your" money in order to claim you provided more than half of your own support.
The IRS defines support as tution, books, lab fees, housing, clothing, food, transportation and entertainment costs.
With my numbers above, there is no way on this green earth that you will ever convince the IRS that an undergraduate college student spent more than a total of $100,000 (more than $50K of their own money) in a single tax year to support themselves. The IRS expects costs to be "reasonable". IN other words, no steak and lobster for lunch and dinner everyday while living in a $5000/mo. penthouse suite. That's just not gonna fly.
Now to answer your question.
Will I get a stimulus check?
At this time, no. But it "could" change if it hasn't by the time you read this. Currently, the maximum payout is $1,200 per tax payer, plus $500 for each dependent they claim if that dependent is under the age of 17. SO if your parent's a filing joint they will be getting a maximum of $2400 plus $500 for each dependent under the age of 17, (could be less if their income exceeds $79K) and that's it. You will get nothing.
But like I said, that could change.
