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Recovery rebate credit?
I didn't qualify for the first two stimulus checks because I was claimed as a dependent. Recovery rebate credit uses 2020 tax information and I graduated and no longer qualified as a dependent that year. When I was filing, I was asked if I missed both stimulus payments. I said I received the first stimulus (1,200) because I got a cares act grant through my college of 1,200. I thought that was the same thing because it was the same amount, but a friend is saying that the grant was not the same as a stimulus check from the government. Was I then supposed to say I missed both stimulus payments and get both stimulus payments? Did I make a mistake on my taxes?
I was 24 years old in 2020
1 Answer
- A HunchLv 73 weeks ago
If you are a student for 5 months out of the year, you are still a dependent.
So you would have needed to graduate in 2019 to no longer qualify as a dependent.
* The question is "can" you be claimed as a dependent, not "are" you. you are eligible to be claimed as a dependent. The 5 months is really intended for college students who graduate after the first semester or 2nd quarter of the year. If your school graduates in late April or early May, you are still a dependent.
You didn't miss any stimulus payments.
Yes you have made a mistake on your taxes.