cancel
Showing results for 
Search instead for 
Did you mean: 
     
Highlighted
Participant ○○○

Differences Betweeen Filing Taxes in 2020 and 2021

0 Kudos
3 Replies
Highlighted
Participant ○

Re: Differences Betweeen Filing Taxes in 2020 and 2021

Not much change for me, with no stimulus money received and no payroll taxes paid. My FreeTaxUSA software takes care of other details after I enter numbers from the forms I receive...

0 Kudos
Highlighted
Participant ○

Re: Differences Betweeen Filing Taxes in 2020 and 2021


@TheWizard wrote:

Not much change for me, with no stimulus money received and no payroll taxes paid.


Some seniors who received no stimulus money this year will get some by virtue of their 2020 tax returns.  A person who does not take RMDs for 2020 and donates $300 to charity may well have a 2020 AGI low enough to become eligible for a stimulus payment, even if their income does not otherwise decline.

John

0 Kudos
Highlighted
Participant ○○○

Re: Differences Betweeen Filing Taxes in 2020 and 2021


@jjustice wrote:

@TheWizard wrote:

Not much change for me, with no stimulus money received and no payroll taxes paid.


Some seniors who received no stimulus money this year will get some by virtue of their 2020 tax returns.  A person who does not take RMDs for 2020 and donates $300 to charity may well have a 2020 AGI low enough to become eligible for a stimulus payment, even if their income does not otherwise decline.

John


@jjustice 

The article says this *may* happen not that it will happen.  Even then, for those few that qualify, the difference of $300 dollars on AGI will only get a sliver of that stimulus payment, if they didn't receive a stimulus payment at all.  

ctyankee

0 Kudos
Announcements