I plan to file separately this year for the first time. I have 4 kids and I will have the lower paid spouse claim the 4 kids and dependents and not the higher paid spouse. The stimulus checks I received were limited. When I report the amount I received do I include the total amount or should I subtract $1,200 from the first and $600 from the second for the spouse that isn't on that return?
For example, I received $2,311 in the second stimulus check. Should I report the full $2,311 received on the lower spouse's return or should I only report $1,711 since one spouse is not included on that return?
You do have to subtract the stimulus checks that belonged to the other spouse and the ones for any dependents you are not claiming as such. Also, if you file married-separate you will not qualify for an earned income credit.
Thanks that makes sense and it helps me. My only concern is that the numbers now won't match up and it could cause an IRS flag. But we'll see what happens.
I filed jointly last year so we only got one check for each stimulus. Now by filing separately it increases the amount since my income alone is below $75,000. My wife's income is higher and thus her return in turbo tax doesn't even ask about stimulus amounts. I can go into the forms though since I'm on the desktop product and put in the $1,200 and $600 each.