About NCperson

NCperson

@Hal_Al - if you follow the thread, the comment was specific to EIP and nothing else.

NCperson

oh- did you have an HSA - for some reason TT thinks you over contributed. DO NOT CHANGE THE W-2. The contribution limit is $8100 for family (since you two are over 55) and another $1000 if you set up a separate plan for the other spouse (since both are over 55). So something is amiss with what you entered as long as you contributed less that this amount did you have a high deductible medical plan? open form 8889 and look at Line 1 - I think that response may fix it. there is another place in the interview process where TT will ask whether you contributed to an HSA - DO NOT list anything that was part of you pay check Box 12 - it is asking only what you may have sent directly to the HSA administrator outside the paycheck.

NCperson

@fanfare - Anyone over the cutoff age who was a dependent on your return was not counted toward your EIP. directionally correct and I agree, but technically, anyone listed as eligible for the "child tax credit" on the face page of the 1040 is counted towards EIP. Yes, that is typically anyone under 17, but if you are permanently disabled and dependent on someone else for more than 50% of financial support, regardless of age, you are eligible for 'child tax credit' status .... there is an exception to ever rule!

NCperson

May not be worth the aggravation of calling the IRS. The IRS will stop sending out payments on the 15th The IRS begins accepting tax returns on the 27th best to wait until at least the 27th to file; by that time any checks in the mail will have been delivered (or direct deposited). if you don't receive the payment, then you'll get the credit for what is missing on your 2020 tax return by completing the "Federal Review" section where it will ask what you did receive and then what you are still owed will appear on Line 30 of the tax return - it will increase your refund (or decrease what you owe). it is pretty simple. Be Patient!

NCperson

the 'why' is because you either filed in 2018 or 2019 or filed a 'non-filer' form or are on social security and the IRS picked it up directly from the Social Security Administration.... why are you asking?

NCperson

yes, you can take a photo of your last paycheck, but NO NO NO, you can not use it to complete you Tax Return. YOU MUST WAIT FOR YOUR EMPLOYER TO GIVE IT TO YOU. @xmasbaby0 - ah, where are the good old days of paper submissions where you had to attach your W-2 or your return was rejected???????

NCperson

are you under 59.5 years old and did you take a distribution? what is the code on form 1099-R in Box 7? that is what normally drives the additional tax is the additional tax 10% of the distribution?

NCperson

why do you want to file separate? is there a specific reason? 96% of married couple file joint - because the taxes are lower that way!!

NCperson

not worth the time calling the IRS.... they are just going to tell you to clear it up on your 2020 tax return. Look at the Federal Review section and enter the stimulus that you did receive. Then look at Line 30 of the 1040 form and the Recovery Credit (the missing money) will be displayed there. That will have the effect of increasing your refund or decreasing what you owe. I would wait to file until the end of January.. The IRS will stop sending payments on the 15th and by the end of the month any checks in the mail would have arrived.

NCperson

Agree with @Hal_Al and it may be worthwhile to run your scenario through the official IRS tool https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent

Date Registered	‎December 4, 2018 2:52 PM
Date Last Visited	2 weeks ago
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