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Claiming child as dependent

By Terry Savage on October 18, 2020 | Wild Card & Pandemic Related

Hi Terry I heard you on WGN yesterday talking about how parents should not have claimed their college age children on their tax returns for 2019 so that they could go back and get the stimulus $1200 check. What are the guidelines for that? We’ve already filed but I’m wondering if it would be worth us amending our returns. I have two college age children who both worked and earned between $3000 and $4000 for 2019. Would they be eligible to claim themselves? Thanks!!

Terry Says

Gosh I tried to tell parents that before they filed last summer. Perhaps I didn’t shout loud enough. I don’t know how the IRS is going to handle revised returns, taking dependents off. I don’t think I would mess with it now. It may cost more than the $2400 in hassles.

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