Apparently, it’s the reverse. If your 2020 income falls below the threshold,

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Mar 26, 2020
9:54:21am

al3124 All-American

Apparently, it’s the reverse. If your 2020 income falls below the threshold,

you’re trued up with next year’s tax return.

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al3124

Bio page: al3124
Joined: Aug 24, 2010
Last login: May 6, 2024
Total posts: 2,887 (45 FO)

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Messages

Author

Time

Stimulus bill--I got a tidbit in an market update email. Apparently if you

BYUHawk

3/26/20 9:45am

Well, if it went above the 150K household or somewhere between 150 to 189.

The Old Y

3/26/20 9:47am

Or if you had a baby or got married etc in 2019.

rggee

3/26/20 9:48am

Right, only matters if you had a large increase from 2018 to 2019 and already

BYUHawk

3/26/20 9:50am

So will it use kids under 17 from then also or automatically age them forward?

BlooGeek

3/26/20 9:49am

This is my question too. Have one right on the cusp.

The Old Y

3/26/20 9:50am

It will use the dependents listed on your 2018/2019 return, I'm sure

rggee

3/26/20 9:52am

this doesn't make sense to me - for me it made much more sense to send the money to everyone and then use everyone's

HarlemCoug

3/26/20 9:51am

I was thinking similar thing, but hadn't thought through the details like you.

BYUHawk

3/26/20 9:54am

Apparently, it’s the reverse. If your 2020 income falls below the threshold,

al3124

3/26/20 9:54am

Oh, so it doesn't really matter as it will all get trued up based on 2020?

BYUHawk

3/26/20 10:00am

RE: Apparently, it’s the reverse. If your 2020 income falls below the

MitchRapp

3/26/20 10:01am

That sounds like a nightmare.

rggee

3/26/20 10:00am

Any money for kids? If so I had another last year so that’s a llus

Adwight

3/26/20 9:54am

$500 per child

rggee

3/26/20 10:03am

does it matter what parents' income is for this? or also limited to $199k?

byuwahoo

3/26/20 10:06am

Also limited but will be slightly higher than 198K. There is chart floating

rggee

3/26/20 10:59am

I have a son who is now an adult, but who I claimed as an independent on my 2018

BYUMizzou

3/26/20 10:12am

Received early-retirement offer and buyout in 2018 which put that year well

valcorger

3/26/20 10:11am

If you have filed for 2019 it will be that year used

rggee

3/26/20 11:00am

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