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Child dependency
Posted on 3/30/20 at 6:28 pm
Posted on 3/30/20 at 6:28 pm
Just read on yahoo finance that If you support your college age kid from the ages of 17 to 24 your shite of luck to get 500 according to stimulus package. WTF. I pay my far share!!!!!!
Posted on 3/30/20 at 7:06 pm to beef42
But if they filed 2019 federal taxes will they get the $1200?
Posted on 3/30/20 at 7:06 pm to beef42
quote:
If you support your college age kid from the ages of 17 to 24
Grass is still growing. Tell them to mow some yards
Posted on 3/31/20 at 8:39 am to GTD
They will get the $1200 if they didnt file 2019 as a dependent. If they filed as a dependent no one is getting anything for them. Complete BS IMO.
Posted on 3/31/20 at 8:53 am to beef42
quote:
Just read on yahoo finance that If you support your college age kid from the ages of 17 to 24 your shite of luck to get 500 according to stimulus package. WTF. I pay my far share!!!!!!
This is what happens when legislation is written on the fly and no one actually reads it.
The $500 per dependent stimulus was written to tie to the child tax credit rules. Essentially, if you have a child eligible for the child tax credit (disregarding income levels), then they are an eligible for the $500 stimulus.
For reasons unbeknownst to me (perhaps as an honest mistake, perhaps to save money) they didn't tie the credit to the "dependent child" rules. If they used that rule instead, then all these older kids would indeed be eligible.
However, for the purposes of the $1,200 stimulus, they did tie that to the rule that says you can't get it if you can be claimed as someone's dependent.
Expect to find more of these "issues" as we find out what's really in the bill.
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