I have a 22 year old dependent, we are the only ones on my returns. Will she receive the $1200 adult check or the $500 check or none at all? She has zero income.
Any dependent on a return = $500.
But what if the dependent graduated college in 2019 and became a taxpayer filing a return in 2020, then we think that the newly minted taxpayer would get the difference back on their 2020 return, $700.
We do not think that you would have to pay back the $500 you got for the 2019 dependent.
Or maybe you will. No final wording yet.
This generally includes dependent children under the age of 17 for whom the individual has a social security number.
So if your dependent is in HS or college and you can rightly claim them, who gets their share?