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michellereneedemo
New Member

Dependency Question

So, since I turned 18, my parents have not claimed me on their taxes. While in college I have stayed at home so I have always selected YES on the box for potential to be claimed as a dependent. 
Does anyone know if there is anything I can do about the stimulus, as I understand it I am basically told to sit and spin even though I work full time.
Basics: 
ME: Single filer, full-time student, full-time employee age in 2019 22 (already filed).
Parents: joint, do not claim me as dependent.

3 Replies
Hal_Al
Level 15

Dependency Question

If you checked the box that said you can be claimed as a dependent, you will NOT receive the stimulus payment, even if your parents did not actually claim you.

What is not clear is what will happen if you file an amended return to only uncheck that box.  Several people have asked that question and so far a clear answer has not been received.  For sure, it will be a while before you get the stimulus. 

But, if you don't get it in 2020, you will get it in 2021, if you are still not a dependent in 2020.

"In essence, the stimulus check acts as an advance of your 2020 income tax refund. This means when you prepare your 2020 income tax return, there will be a line to include the section 6428 credit. The credit on your 2020 return is subtracted by any amount received as a stimulus check in 2020. If the amount you received as a stimulus check is less than the credit you are due, the difference will be included as part of your 2020 refund. If you have been overpaid by receiving the stimulus check, however, you will not be required to return any excess amount".

Reference: https://www.dailylocal.com/news/coronavirus/what-does-the-stimulus-check-mean-for-your-taxes/article...

Hal_Al
Level 15

Dependency Question

"So, since I turned 18, my parents have not claimed me on their taxes. While in college I have stayed at home so I have always selected YES on the box for potential to be claimed as a dependent".

 

Its sounds like either you or your parents have been missing out on some tax breaks.  If you check that box,, it usually prevents you from claiming the tuition credit.  Your parents coulda been claiming your exemption or dependent credit, earned income credit and tuition credit.   They and/or you should be looking at possibly filing amended returns. 

 

A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:

  1. He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled. Note that turning 18 was not a disqualifying event.
  2. He did not provide more than 1/2 his own support. Scholarships are considered third party support and not as support provided by the student.
  3. He lived with the parent (including temporary absences such as away at school) for more than half the year

 

So, it doesn't matter how much he earned. What matters is how much he spent on support. Money he put into savings does not count as support he spent on him self.

The support value of the home, provided by the parent, is the fair market rental value of the home plus utilities & other expenses divided by the number of occupants.

kschumann17
New Member

Dependency Question

Just wondering - did you ever get the stimulus check?

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