Stimulus Check For Dependents In College
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A sum of 600 per qualified dependent will be added on to a family s share but when is it possible.
Stimulus check for dependents in college. Among other things that means that if you did not receive a stimulus check you will get it when you file your taxes. In terms of financial strategy you might be thinking you should allow a dependent college student or young adult to file a return to claim the 1 800 in stimulus money. Aside from the smaller stimulus checks for adults the other major change under the bill passed by congress is the amount provided for dependent children.
You can only claim the credit if you are not claimed as a dependent on someone else s return. Both rounds of stimulus are refundable tax credits on your 2020 return. Therefore a university age student who is not claimed on a tax return as a dependent could be eligible for a stimulus check under the cares act and perhaps under the second covid relief package.
According to cbs the bill gives 600 to each dependents under the age of 17. For dependents the 600 stimulus payment is only given to households with children under 17.