in 2019 taxpayer was a dependent of parents return and received no rebate. In 2020 taxpayer filed as single with $30,000 income on her own return (1040). can taxpayer request the two economic payments on the 2020 tax return.
Best Answer Click here
This discussion has been locked. No new contributions can be made. You may start a new discussion here
"In 2020 taxpayer filed as single with $30,000 income on her own return (1040). can taxpayer request the two economic payments on the 2020 tax return."
What about the question "could be claimed as a dependent by someone else?"
Perhaps it would help to review what is really happening:
The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.
If the person is not a dependent in 2020, then they would be entitled to the payment/credit as individual filers. That doesn't mean "not being claimed." It means "no longer qualifies as a dependent."
You might want to bookmark these links and read the IRS guidance.
Interactive wizards portal for determining dependency:
https://www.irs.gov/help/ita
And:
https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility
https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility
One for each EIP.
yes
You don't "request" it. Answer the questions correctly, and the taxpayer will get it or not get it.
"In 2020 taxpayer filed as single with $30,000 income on her own return (1040). can taxpayer request the two economic payments on the 2020 tax return."
What about the question "could be claimed as a dependent by someone else?"
Perhaps it would help to review what is really happening:
The funds were paid out as Advanced payment against a projection. The projection used 2018 or 2019 tax returns. But 2020 is the Actuals. You use the 2020 return to reconcile what a person is entitled to, against what they got.
If the person is not a dependent in 2020, then they would be entitled to the payment/credit as individual filers. That doesn't mean "not being claimed." It means "no longer qualifies as a dependent."
You might want to bookmark these links and read the IRS guidance.
Interactive wizards portal for determining dependency:
https://www.irs.gov/help/ita
And:
https://www.irs.gov/newsroom/economic-impact-payment-information-center-topic-a-eip-eligibility
https://www.irs.gov/coronavirus/second-eip-faqs#Eligibility
One for each EIP.
good evening I did not have time to receive the first and second stimulus can you help me fill in the 1040 to retrieve them? thanks
You seem to be lost on the internet.
You’ve come to a Peer User community for Intuit Tax Preparation products supporting tax preparation professionals using ProSeries, Proconnect and Lacerte , and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.
Thanks.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.