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Stimulus payment

pg47
Level 3

Are the stimulus payments  going to be taxable income for 2020 returns?

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3 Replies 3
IRonMaN
Level 15

If they received a payment, it will reduce the credit that they would have been entitled to on the 2020 returns.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
pg47
Level 3

Thank you.

IRonMaN
Level 15

You betcha!

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)