topic Re: Stimulus question in Deductions & credits

Stimulus question

rere723 — Wed, 17 Mar 2021 20:11:21 GMT

I am going to file my my 2020 taxes. So just for clarification, if I claim my daughter as a dependent, she is 18, I will receive $2,800 in stimulus funds from this third round?

Re: Stimulus question

xmasbaby0 — Wed, 17 Mar 2021 20:27:59 GMT

That is how it should work. You can claim your 18 year old as a qualifying child dependent. If your child has any income the child can file his own return but must say he can 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 $4300 (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?

Re: Stimulus question

rere723 — Wed, 17 Mar 2021 20:32:18 GMT

Thank you. But because she does not need to file because her income was under the limit, it is better for me to claim her?

Re: Stimulus question

xmasbaby0 — Wed, 17 Mar 2021 20:53:41 GMT

There is no element of choice. If your child CAN be claimed then she has to say on her own return that she can be claimed. At 18---she CAN be claimed. When you claim a dependent you get the $500 credit for other dependents and for 2020 you get the $1400 stimulus amount for claiming a dependent. And...if she was a student you get to claim education credits.

If she had tax withheld from her checks then she would want to file a tax return in order to get a refund.