We’re still getting lots of questions on economic impact payments
Here is a recent one:
I claimed my 21-year-old son as a dependent on my 2019 Form 1040, but I won’t be elegible to claim him on my 2020 return. He plans to file his own return for 2020, and his income will be below the threshold for getting the $1,200 stimulus payment. Will he get the rebate?
Yes, but not this year. He can instead claim the amount as a refundable credit on his 2020 Form 1040.
Previous Post
Next Post