Other financial discussions

@Michael Martzx If you said on your own tax return that you could be claimed as someone else's dependent you made yourself ineligible for a stimulus check---even if your parents did not claim you.  If you CAN be claimed as someone else's dependent then you are supposed to say so on your own return even if they do not end up claiming you.  If it was not correct that you COULD have been claimed then you can amend your return to change the way you answered the question about that in My Info.  

 

The reality is that amending in late October of 2020 will not result in you getting a stimulus check this year in 2020.  The normal time for processing an amended return is about four months.  During the pandemic it has been taking MUCH longer for the IRS to process an amended return.  

 

If you cannot be claimed as someone else's dependent when you prepare and file your 2020 return next year in early 2021, you will be able to get the stimulus money then.  The money people received in 2020 was an advance on a credit that will be on 2020 tax returns.

 

Do you fit the criteria to be claimed as someone else's dependent?

 

WHO CAN I CLAIM AS A DEPENDENT?

 

You can claim a child, relative, friend, fiance (etc.) as a dependent on your 2019 taxes as long as they meet the following requirements:

Qualifying child

• They are related to you.

• They cannot be claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or   Mexican resident.

• They are not filing a joint return with their spouse.

• They are under the age of 19 (or 24 for full-time students).

    • No age limit for permanently and totally disabled children

        They live with you for more than half the year (exceptions apply).

Qualifying relative

• They don't have to be related to you (despite the name).

• They cannot be claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.

• They are not filing a joint return with their spouse.

They lived with you the entire year.

• They made less than $4200  (not counting Social Security)

• You provided more than half of their financial support. More info

When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them.

Related Information:

Does a dependent have to live with me?

What does "financially support another person" mean?

Can I claim a newborn baby?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**