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Stimulus payment

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Level 3

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

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3 Replies 3
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Level 15

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

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 3

Thank you.

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Level 15

You betcha!

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.