Will I get my Stimulus Check as a Grad Student?

Forum|Forum|5 years ago
April 23, 2020
1 reply
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I'm 22 and moved out last year to work full-time and attend graduate school. I moved out-of-state in July and started making about $25,000 annually. However, even though I filed 2019 independently, my parents still claimed me as a dependent for the last six months (January-July) I still lived with them. Does this mean I shouldn't expect a stimulus check? My parents did not receive an extra $500 for claiming me as a dependent, either, and they've received their payment already.

NCPERSON1

it won't matter.... the worst case is you'll get the payment as part of the 2020 tax return next spring as you parent's won't be claiming you and you will be independent.

The stimulus payments are really based on your 2020 tax return (income, dependents, etc).
The IRS is using either 2018 or 2019 – whatever is available - to ESTIMATE that payment
When you file next year there will be a “settle up” section on the tax return.
If you are due more stimulus (and this would include where you simply never received it), you will receive it through the 2020 tax filing as an additional refund
If you received too much stimulus (not the issue here), by law , you are not required to return it

the only issue is that you'll have to wait until next year to get the money.