I was filed as a dependent last year, but I became an independent in November. Is there a way to update my information as an independent so I can still receive the stimulus check since I am currently independent?
I receive social security and disability insurance as well.
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The person that claimed you as a dependent would first have to file an amended return taking you off. Then, after 3 weeks you will file your amended return. If you file before the other person you will be rejected.
No, if you COULD BE claimed as a dependent in 2019, whether you were claimed or not doesn't matter. You're still not eligible. You may be able to get the payment if you file next year for 2020 bot not for 2019
Thank you for your response. So my eligibility will be based on being a dependent last year? Is there a way to list that I am an independent for the year 2020 or does being an independent in 2020 not change my ineligibility if I was a dependent in 2019?
As I understand it, if you were claimed as dependent on someone's 2019 tax return, you will not receive a stimulus payment. If you are no longer a dependent in 2020, you will receive a tax credit for the stimulus when you file your 2020 tax return.
Thank you for responding. I have a second question. I am also a SSI and SSD beneficiary. I know that SSI and SSD beneficiaries receive the stimulus, but if a beneficiary was filed as a dependent, would it also make them ineligible?
The IRS says "U.S. residents will receive the Economic Impact Payment of $1,200 for individual or head of household filers, and $2,400 for married filing jointly if they are not a dependent of another taxpayer."
"Eligible retirees and recipients of Social Security, Railroad Retirement, disability or veterans' benefits as well as taxpayers who do not make enough money to normally have to file a tax return will receive a payment. This also includes those who have no income, as well as those whose income comes entirely from certain benefit programs, such as Supplemental Security Income benefits."
From that it would seem that if you are a dependent you are not an eligible recipient of SSI.
If you want to find out when your payment is coming, there will soon be an online tool to track it. On April 17, the IRS plans to launch an online tool called Get My Payment. It will let you to check the status of your payment and find out when it will be deposited into your bank account or mailed to you.
I was claimed by my parents for 2019 but have been on my own since August. I see where since I am independent in 2020 that I may get a tax credit for 1200.00 when I file my 2020 taxes. Will this reduce any tax due or will it be given as a refund if I don't owe any taxes for 2020? I don't expect to owe any taxes so I hope it's given as a refund.
In order for you to claim that you could "NOT" be claimed as a dependent on someone else's tax return, one of the requirements is that 'YOU" provided "more" than half of your own support for the "ENTIRE" year. According to you, that did not happen. So changing your status now means you would be filing a fraudulent return. That's basically hanging out a sign literally "begging" for an audit.
N0. What you became at the end of the year does not matter. Dependency claims are for the full year, not some period of time at the end of the year.
@zlh - worst case, you will get the $1200 when you file next year. if you are due a refund, this would increase your refund by $1200.
technically, the stimulus is all based on your 2020 tax return to be filed next year. The IRS is just using 2019 and 2018 as an estimate.
it won't trigger an audit.
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