If I became financially independent in 2020 will I be eligible for the Coronavirus Stimulus checks? If so, how would we claim?

[Bsch4477]

If you can’t be claimed as a dependent on your 2020 tax return you will be given the opportunity to get your stimulus when you come to the federal review part of your tax return. 

[VolvoGirl]

When you go through the federal review tab it will ask how much you got if any.  Or to enter your stimulus payment in TurboTax, type "stimulus" (without the quotes) in the Search box, then click the link that says "Jump to stimulus."

After you have entered your tax information and are ready for the Federal Review, it will be the first question.

If you are trying to trigger it, you can go to Other Situations, answer any questions and click Done. The next automatic selection is Federal Review and it will ask about payments received.

The Recovery rebate credit is on 1040 line 30.  It either adds to your refund or reduced a tax due.

[coboy]

My grandson became independent in Sept. 2020.  I claimed him as a dependent on my 2020 return because he met all the requirements.  He now wants to claim himself as independent and have me amend my return,  removing him as a dependent, so he can get the 2019 stimulus dollars.  Is that legitimate?  Does it matter when in 2020 he became independent?

[Bsch4477]

If you have the requirements making you eligible to claim him he can’t file and say that no one else can claim him. Either he meets the requirements for you to claim him for 2020 or he doesn’t. There’s no point in the year that he is or isn’t a dependent. 

[JeffreyR77]

Yes, it does matter.

You say he met all the requirements to be your dependent. 

Then he can not meet the requirements to not be your dependent. 

Key among these is the Support test and Residency test under Qualifying child.   

If he was not independent until September, and you provided his support the other 8  months of the year, he fails on providing over half of his support, 

If he meet the residency test when you say he met all the requirements, then he cannot have lived somewhere else for over six months.  

Only one can satisfy the eligibility to claim a dependent.  It is not a commodity that can be moved around. 

If he met all 6 requirements to be considered your dependent this year and you chose, for whatever reason not to claim him, he still cannot claim himself. 

You still would be the only person eligible to claim him - you are the only one meeting the 6 tests.

IRS Fact Sheet - Qualifying Child

[coboy]

Thank you!