Stimulus deposits for those on Social Security
We had not filed our 2019 taxes when the stimulus checks went out and in 2018 our income was a great deal higher because of a company I owned but have now closed. In 2019, which was just filed about 3 weeks ago , my husband (91) and I (86) come within the required adjusted gross income. Will we still get the 1st. stimulus deposit?
Terry Says
They probably reviewed your 2018 return and decided you were not eligible. But don’t worry. When you file your 2020 return NEXT APRIL, you can claim the missing stimulus payments for both of you as a credit– since you did qualify in 2019.
And if for some reason you are making quarterly estimated tax payments during this year, you can reduce them by $2400 — since the credit will offset the taxes owed.
