topic Stimulus and Adult Dependent - Should I not claim them in Deductions & credits

Stimulus and Adult Dependent - Should I not claim them

GaryZM — Sun, 21 Mar 2021 17:17:21 GMT

I have two students (Adult Dependents) and with my income, I do not qualify for the stimulus payments. If I pay half of their expenses and do not claim them on my taxes will they qualify for the $1400 stimulus check?

It looks like my taxes will increase by $500; however they will get $1400. As of now, they do not qualify due to my income.

Re: Stimulus and Adult Dependent - Should I not claim them

Bsch4477 — Sun, 21 Mar 2021 17:24:55 GMT

If you can claim them, even if you choose not to claim them, they are not eligible for the stimulus.

Re: Stimulus and Adult Dependent - Should I not claim them

Opus 17 — Sun, 21 Mar 2021 17:29:09 GMT

Under the law, if they qualify to be claimed as a dependent, they must answer “yes” to the question “can you be claimed as a dependent by someone else?” on their tax return, even if the person who could claim them agrees not to claim them. Answering yes to that question will disqualify them from any stimulus payment in their own name. Answering no, to get stimulus payments, when they actually could be claimed as dependents, will probably be considered tax fraud, although I don’t know how well the IRS will be able to enforce this. The IRS has three years to audit any tax return, or six years if there is an allegation of deliberate fraud.