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Unfortunately, that is correct. The key is the word is ''can''. It doesn't matter if you are actually being claimed or not. If someone else can claim you, you are not eligible to receive the recovery rebate. When you answer ''I can be claimed'' (even if you are not), you are still considered a dependent for tax purposes.
That second question (will someone claim you) is only being asked because as a student, you may qualify for a portion of the American Opportunity Credit. But if your income is less than 10K, you are not going to qualify for the non-refundable portion. And, a full-time unmarried student, under age 24, whether claimed or not, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans, or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants.
If your parents claim you, they don't get the stimulus payment, but they will get the $500 Other Dependent Credit, so you should probably have them claim you so you (or them) at least get something.
Is your income too high? If your 2020 income is too high you may not be eligible for the stimulus money.
From the IRS:
A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200 ($2,400 for a joint return) if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:
You are not eligible for a payment if any of the following apply to you:
If you need to make any changes to your stimulus credit responses, search for stimulus and select the jump-to link at the top of the search results to return back to the section. Enter your updated info and Continue.
If you don't get the stimulus questions, it is because:
My income is less than $10,000, but based on what you replied I may be ineligible because someone can claim me as a dependent, but they are not. Is that right, I can't file the recovery rebate tax credit if someone else can claim me as a dependent, but I am filing as an independent? That seems odd to me as those who would claim me as a dependent did not receive any extra stimulus for me? I am 22 years old so it is possible I am just one of the demographics that will never see a stimulus and those who claimed me in 2019 will not see anything from me either.
Unfortunately, that is correct. The key is the word is ''can''. It doesn't matter if you are actually being claimed or not. If someone else can claim you, you are not eligible to receive the recovery rebate. When you answer ''I can be claimed'' (even if you are not), you are still considered a dependent for tax purposes.
That second question (will someone claim you) is only being asked because as a student, you may qualify for a portion of the American Opportunity Credit. But if your income is less than 10K, you are not going to qualify for the non-refundable portion. And, a full-time unmarried student, under age 24, whether claimed or not, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans, or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants.
If your parents claim you, they don't get the stimulus payment, but they will get the $500 Other Dependent Credit, so you should probably have them claim you so you (or them) at least get something.
Thank you for all your help, as unfortunate as it is even though I am out on my own and I have been for months I will not be seeing any support.
If your parents claim you, they don't get the stimulus payment, but they will get the $500 Other Dependent Credit, so you should probably have them claim you so you (or them) at least get something. I added that to the above answer, but could not tag you for some reason.
Unfortunately my parents have Tricare through the military, so I have to file as an independent to qualify for the free Washington Apple Health and avoid being added onto their plan for ~$380 per month. As soon as I graduated college I could no longer be on their plan for free and, so far, is worth far more than the $500 it would have gotten anyone. It is a weird gray area between the federal government saying they will not cover me as I am not a full time student any more and my state government saying that I get to stay on my parent's health insurance for free until I am 26.
Just to make sure we have all the facts. For tax year 2020 you were over age 18 and not a full-time student. You also made more than $4300 for the year. If that is the case then your parents cannot claim you and you would indicate on your 2020 that you cannot be claimed as a dependent on someone else's return. You would be eligible for the Recovery Rebate Credit on your 2020 tax return.
After entering your personal information and your income information you can click on the "Federal Review" tab at the top of the page to arrive at the stimulus payment questions. You would select that you did not receive any stimulus payments and the full $1800 would be added to your tax return.
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