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Level 1
posted Apr 4, 2020 9:37:51 AM

Coronivirus Stimulus

I retired in 2018 and received a severance pushing me over the limit for the Coronavirus stimulus.  However, in 2019 I was well under the limit.  I am not able to file for 2019 yet as waiting on a K-1 form yet.  Will there be a  way to get the stimulus in such circumstances?  Thanks.

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1 Best answer
Expert Alumni
Apr 4, 2020 9:55:48 AM

Stimulus payments will be based on information from your most recent tax filings, either 2019, or 2018 if you haven't filed this season yet. But, the amount paid to you now will be reconciled on next year’s tax return based on your current 2020 situation.

1 Replies
Expert Alumni
Apr 4, 2020 9:55:48 AM

Stimulus payments will be based on information from your most recent tax filings, either 2019, or 2018 if you haven't filed this season yet. But, the amount paid to you now will be reconciled on next year’s tax return based on your current 2020 situation.