Q> So once i do that . I just print & mail it off right?
A> Yes, Sign it. Attach a copy of your W-2 and any other documents showing withholding of federal income tax.
Q> If i mail it do you know if i will get my 2 stimulus payments?
A> We don't know. Prior to stimulus money , this was a common and straight forward situation. The IRS processed your return, in the normal time (6-8 weeks) and sent you your refund.
Shortly (up to a year) thereafter, you’d receive a letter from the IRS, stating that your exemption (dependency) was claimed on another return. It would tell you that if you made a mistake to file an amended return and if you didn't make a mistake to do nothing. The other party got the same letter you did. If one of you doesn't file an amended return, unclaiming the exemption, the next letter, from the IRS, will require you to provide proof.
With stimulus money being on the table, we don't yet know what the IRS will be. You may be required to show proof first. Let's us know, here, what your experience turns out to be.
Your best strategy is to coordinate with the other person. Normally your dependency is only worth $500 to them and nothing to you (personal exemptions were eliminated in 2018) unless you were a qualifying child for EIC or a student for the tuition credit. But this year (2020) there's the $1800 stimulus. And now, there's the issue of the $1400 2021 stimulus.
