Filed as a dependent by mistake! (Stimulus Check?)

[Vanessax3]

How do you do that?

[Trilnutz]

So I am getting $3,200 back on my 2020 return, but I received the the $1,200 stimulus package so therefore my total 2020 return would be $2,000?

[amigz]

hello;

so i didnt get my stimulus and my bank is PNC.  i use direct deposit and have already received my Federal tax refund from 2019 filing.  so i know they have the correct banking info.

circled in the image shows what my original selections were on Turbo

and

the other image is what showed on my 2019 tax return that i filed - the checked box on my 1040.

my question is - am i eligible for the stimulus and will i receive one? Also,  i know my parents did NOT add me as a dependent.  it would not allow them to since i made too much money in 2019.

however, i did do an amendment on Turbo with a 1040x and corrected the answer "NO" to the question "Some can claim as a dependent on their tax return" - and sent it in by mail yesterday.

[NCperson]

it should work itself out, but it could take some time. 

worst case: when you file next year, everyone will fill out a form to 'settle up' their rebate using their 2020 tax return.  think of the 2018 or 2019 tax return as the ESTIMATE of what you are due for stimulus.  2020 information will be the basis of the ACTUAL you are due.  If the actual is GREATER than the estimate, you'll receive the difference next spring.  if the actual is LESS THAN the estimate, you are not required, by law, to return the excess money!  

[casandoval97]

how did you find this form?

[NCperson]

it will be part of the 2020 tax return that you complete next year.  it does not exist yet.

[Camboneee]

Question. So if I’m 19, and my birthday was Dec.2, 2000 and I make over a little over 11,000 a year and I’m in the same boat... am I really independent when I entered the wrong info?

( marking the box that I can be claimed but wasn’t by my parents.) 

[Clynne0712]

I also clicked the can be claimed as a dependent even though my parents did not claim me, I’m 25 out of college and work in a totally different state than my parents and have not been claimed in 2 years. I did this out of habit, I didn’t think it mattered but it definitely does now. I really need this stimulus more now than ever after being laid off of work and it’s been pretty stressful. I filed an amended 1040X in hopes for the best. We also should get some type of group going for people in this situation so maybe they can back check for info or something instead of an algorithm that isn’t accurate. There’s a whole lot of people in this situation an it’s just an accident.

[NCperson]

@Clynne0712 - it will eventually work itself out - here is how: 

• The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
• The IRS is using either 2018 or 2019 – whatever is available  - to ESTIMATE that payment
• When you file next year there will be a “settle up” section on the tax return. 
• If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
• If you received too much, by law, you are not required to return it

I know it doesn't solve the cash flow issue today, but it will correct itself. 

[cjb7]

I also need to amend mine for the same reason. I updated the info on Turbotax, what is suppose to show on the 1040x?

[cjb7]

I also need to file a 1040X for the same reason. When you printed out the 1040X, was it completed? Mine only shows the refund I already received. Is this correct?

Thank you.

[esolis623]

I’m in a similar situation. I’m 26 have been doing my taxes through TurboTax for year and this was the first year I checked “someone can claim me as a dependent” but no one did claim me. I don’t get any information when I track my payment and I just sent out the amended return. I’m not sure if that’s what’s effecting the issue when I put my info in on the irs website but it’s very frustrating. Especially since the return I was supposed to get never came, instead the irs sent me a letter saying they’re taking me return. I could have really used my return and especially this stimulus check. 

[NCperson]

@esolis623 - you will eventually get the stimulus... here is the 'worst case scenario'

• The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
• The IRS is using either 2018 or 2019 – whatever is available  - to ESTIMATE that payment
• When you file next year there will be a “settle up” section on the tax return. 
• If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
• If you received too much, by law, you are not required to return it

[Kjwesley2]

So what if you weren’t eligible to be claimed as a dependent. Graduated college in 2018, lived on my own since 2017, make 35k a year and 23, 24 in one week. I just accidentally clicked it by mistake while filing my return online. Will I have to amend or is the IRS looking over that?

[NCperson]

there are a few thoughts:

1) some think the best thing to do is amend your tax return. It will take at least 16 weeks for the IRS to process and there is no guidance from the IRS whether that amendment will immediately result in the stimulus being paid,  Maybe it will and maybe it won't.  

2) wait until the 2020 tax return is filed next year - 

you will eventually get the stimulus... here is the 'worst case scenario'

• The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
• The IRS is using either 2018 or 2019 – whatever is available  - to ESTIMATE that payment
• When you file next year there will be a “settle up” section on the tax return. 
• If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing.
• If you received too much, by law, you are not required to return it