Level 2

Stimulus checks for dependents

Forum|Forum|5 years ago
March 25, 2021
3 replies
21 views

MFJ couple has $200,000 AGI for 2020. This would I think make them ineligible for a stimulus check. They also have an adult college student under age 24 whom they could claim as a dependent. If they claim him as a dependent, do they get a $500 child credit? But if they don't claim him as a dependent, and the student files his own tax return, will the student qualify for a $1,400 stimulus check? Is there any downside to taking the no dependent/student files own tax return route? BTW, parents file California tax return.

This topic has been closed for replies.

IRonMaN

Level 15

Live dangerously and enter/delete that info into the tax return and see what happens.

Slava Ukraini!

rbynaker

Level 13

That depends on whether or not the student commits fraud on his tax return by not checking the box "Someone can claim: [ ] You as a dependent"

D

ddalyAuthor

Level 2

Is this a situation where if the parents could claim college student as a dependent, then they have to claim him as a dependent?

rbynaker

Level 13

@ddaly wrote:

Is this a situation where if the parents could claim college student as a dependent, then they have to claim him as a dependent?

No. But if they could claim him, he cannot claim himself and needs to check the box on the return.

L

lrhenry04

Level 4

This usually comes down to the Support Test.

Have your clients fill out the Dependency Support Worksheet. Keep it in your file.

A family of 8 living in a $30,000 house looks different than a family of 3 living in $500,000 house. Some families are way more extravagant than others.

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded