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January 30, 2021
Question

We had no income in 2020. We received both stimulus payments. We have a dependent still at home. Do we need to file anything?

  • January 30, 2021
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1 reply

January 30, 2021

You should have received $1,200 for each taxpayer and $500 for each dependent under 17 years old for your fist stimulus, and $600 for each taxpayer and $600 for each dependent for the second one. So, if your dependent is under the age of 17, you should have received $4,700 by my calculation. If that is what you received, then you don't need to do anything else.

 

Otherwise, you need to prepare your tax return for 2020 in TurboTax, where you will be prompted to enter how much you received for your stimulus and then the program will calculate the amount of stimulus due you based on your income, number of dependents and payments already received. If any additional stimulus is due you, it will be used to reduce your 2020 income tax liability, and the balance will be refunded to you.

 

You will see the options when you are done entering your tax information and proceed to the review process.

 

You can file a tax return in 2020 to get your stimulus check, even if you aren't required to otherwise.

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