About stimulus check and Taxes
Good morning Ms Terry, I just saw you on tv, but I think I missed something, sorry. My question is- we both are not working( unemployed) we didn’t receive stimulus checks, ( this time we got $200 for 3 people), so how much we will be taxed for it? And we not receiving any medical benefits, not even for my 13 year old kid.
Thank you for your time, stay healthy!
Terry Says
You must file your 2020 tax return, and declare any unemployment benefits you received in 2020. Stimulus benefits are not taxable. But it looks like you missed out on a $1200 stimulus for each of you — and then on $600 for each of you in the second round of stimulus payments!
You can claim those as a credit on your 2020 tax return on Line 30. but you must file electronically AND input your direct deposit banking information. Here is a link to an article that explains.
I’m getting the feeling that you need some help filing. I suggest you go to a well-known tax preparation office. If your income is under $72,000 you qualify for FREE help under the IRS freefile program. So go to HR Block or one of the other well-known firms, and ask for free help!! And if you have a problem, get back to me with another post on my blog. I’ll be watching for it.