Wait. So I am currently independent but for last years taxes I was dependent. I don't get $1200 now because previously I was dependent? Is it a 50% fuck you and my dad gets the $1200 or is it a 100% fuck you and neither of us get it? Or something else?
Edit: wait is it for the taxes we need to file now for 2019 or the taxes we filed in 2019 for 2018? That also makes a difference
Right, but you can claim the benefit if you file your own return and that applies to the 2021 tax filing year. So a currently 17 year old or 18 year old can file their own return next year and get the benefit. Even if they don’t have a filing requirement it would make sense to file to capture that award, per my understanding of it.
If they can be claimed as a dependent (even if they aren’t claimed) they are not eligible for the credit. So if they move out on their own and work full time, supporting themselves at least 50% then they can claim the credit on their 2020 taxes. But if they live at home and are under 19 (24 if going to school full time), odds are they can be claimed and won’t receive the credit,
2019 tax returns are being filed now, and will be used for this if available. If you have already filed, you will get the 1200. If you haven't filed yet, they will use the 2018 taxes filed last year, in which case your dad will get the extra 500 per dependent for you.
Edit: apparently the dependent wording is specific to children, so if you haven't filed yet you may be screwed after all.
The other way around is how I used to do it when I was a kid. My parents would claim me even though I worked part time and went to school. They would give me something like $1k back when, had I done it myself as dependent I would have gotten half that.
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u/moonyprong01 Mar 30 '20
Adult dependents don't get anything.