Stimulus Check
My daughter had 2018 AGI of $123,500. She had her refund of $600 applied against 2019 taxes. She was laid off in 11/2018 and remained unemployed until 5/2020. Her 2019 AGI was $45,900. She filed her 2019 federal tax return on paper on 3/30/2020 with her $4400 refund to be applied to 2020 taxes, but it recently came by check to her Wisconsin address instead. Before cashing the check she made an est federal payment for the refund plus interest they paid. She had a Chicago apartment building in which she lived in one of four units, but sold 01/2020 and moved from Chicago to Wisconsin and got married in July, 2020. She has made additional est online Federal payments in July 2020 from her ckg acct. to cover her capital gains on selling the apt. building. She hasn’t not received a stimulus check. I do her taxes. Don’t know if she qualifies to receive one.
Terry Says
Let me cut tot he basic point — her AGI of $45,900 would have qualified her for a stimulus check — unless that didn’t include the capital gains, which might have put her over the limit.
Two things to do: First read this column about what to do if you didn’t get your stimulus check.
Second — if you still think she qualifies based on income, then you can claim a credit next spring when she files her 2020 tax return.
And unless you are a CAP or certified tax preparer, I’d suggest she get a CPA in Wisconsin, her state of residence to do her return next year. Actually, the time to start that tax planning is now — because if she qualifies for a credit for a stimulus payment not received, she may not have to make any more estimated payments. But get a professional to look at the big picture.
