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  • Writer's pictureAaron Mullis

My Stimulus Payment was missing $500 for my dependent child in college.

Pursuant to the CARES Act, dependent college students do not qualify for an EIP. Even though you may have claimed them as dependents, they probably do not qualify for the additional $500 payment. At the same time, the student probably will not receive a $1,200 payment of their own. For example, under the law, a 20-year-old full-time college student claimed as a dependent on their mother's 2019 federal income tax return is not eligible for a $1,200 Economic Impact Payment because they were claimed as a dependent. In addition, the student's mother will not receive an additional $500 Economic Impact Payment for the student because they do not qualify as a child younger than 17.

This scenario could also apply if a parent's 2019 tax return hasn't been processed yet by the IRS before the payments were calculated, and a college student was claimed on a 2018 tax return.However, in this situation, if the student cannot be claimed as a dependent by their mother or anyone else for 2020, that student may be eligible to claim a $1,200 credit on their 2020 tax return next year.

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