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2020 Taxes, college student, and Recovery Rebate Credit


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I claimed my 20yo college student on my 2019 taxes and received a $500 tax credit.  She did not receive either stimulus check last year so I'm hearing I should not claim her on my 2020 taxes so she can file independently and get those stimulus checks as a tax refund. 

Based on my research this morning I'm not sure if she qualifies as independent (provides more that 1/2 her support) so I figured the best thing to do was ask FBG.  She is paying 100% of her tuition with a scholarship and has a job, but I am paying for her apartment and I give her some cash each month for food (basically room and board).  Does the room and board come into play here?  Or, since she is a college student pay 100% of her tuition, does that qualify as independent?

Do I have it about right?  Anything I'm missing?

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38 minutes ago, Steeler said:

I claimed my 20yo college student on my 2019 taxes and received a $500 tax credit.  She did not receive either stimulus check last year so I'm hearing I should not claim her on my 2020 taxes so she can file independently and get those stimulus checks as a tax refund. 

Based on my research this morning I'm not sure if she qualifies as independent (provides more that 1/2 her support) so I figured the best thing to do was ask FBG.  She is paying 100% of her tuition with a scholarship and has a job, but I am paying for her apartment and I give her some cash each month for food (basically room and board).  Does the room and board come into play here?  Or, since she is a college student pay 100% of her tuition, does that qualify as independent?

Do I have it about right?  Anything I'm missing?

I think it is typically harder to argue that someone is a dependent than the way around 

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10 hours ago, Steeler said:

I claimed my 20yo college student on my 2019 taxes and received a $500 tax credit.  She did not receive either stimulus check last year so I'm hearing I should not claim her on my 2020 taxes so she can file independently and get those stimulus checks as a tax refund. 

Based on my research this morning I'm not sure if she qualifies as independent (provides more that 1/2 her support) so I figured the best thing to do was ask FBG.  She is paying 100% of her tuition with a scholarship and has a job, but I am paying for her apartment and I give her some cash each month for food (basically room and board).  Does the room and board come into play here?  Or, since she is a college student pay 100% of her tuition, does that qualify as independent?

Do I have it about right?  Anything I'm missing?

I had the same dilemma with my son and called my accountant.  He said it more beneficial for me to file as head of household vs individual.  So filed my sons taxes as dependent and student.  If you can still file as hhh without your daughter then that’s the way to go.  

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1 hour ago, stlrams said:

I had the same dilemma with my son and called my accountant.  He said it more beneficial for me to file as head of household vs individual.  So filed my sons taxes as dependent and student.  If you can still file as hhh without your daughter then that’s the way to go.  

Thanks for the reply, but I'm married so HHH probably isn't feasible for me.

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Basically the choice is yours to make, she is borderline and the IRS isn't likely to fault you either way. The IRS mainly cares that she isn't claimed on both returns. If it was me I would grab a few sets of 1040s and figure both sets of returns both ways to see which way nets the best total return for the family.

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7 hours ago, Dezbelief said:

Basically the choice is yours to make, she is borderline and the IRS isn't likely to fault you either way. The IRS mainly cares that she isn't claimed on both returns. If it was me I would grab a few sets of 1040s and figure both sets of returns both ways to see which way nets the best total return for the family.

This is what I did at one point. I figured out my son's taxes  and our taxes with and without as a dependent and filed whatever way gor us more money. Him as a dependent netted more cash for us

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Calculator

Edit - never mind, your question was about first two stimuli.

 

 

Reports are dependent college students 23 and younger will be covered under third stimulus.

 

 

 

More Money for Certain Families

One big change in the proposed third stimulus check plan is that an extra $1,400 will be tacked on to your payment for any dependent in the family. For the first- and second-round payments, the additional amount allowed – $500 for first-round payments and $600 in the second round – was only given for dependent children age 16 or younger. As a result, families with older children, including college students age 23 or younger, or with elderly parents living with them, didn't get the extra money added to their previous stimulus payments. That would change if the proposal currently before Congress is eventually enacted.

Edited by JaxBill
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