Stimulus checks (2008) and filing your taxes.

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  • ExtremeGamer
    Extra Life 11/3/18
    • Jul 2002
    • 35299

    #16
    Re: Stimulus checks (2008) and filing your taxes.

    Yeah, that's right. You would have owed the $1600, but if you didn't get the 1200 stimulus package, then you only owe $400. It's not counting against you, just the $1200 is paid to you at some point. Either last year, or in this return.

    My son was born last year, so we got an extra $300 in our return...woot

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    • Heelfan71
      Hall Of Fame
      • Jul 2002
      • 19940

      #17
      Re: Stimulus checks (2008) and filing your taxes.

      so the $1299 stimulus check I got was like a interest free loan that I have to pay back? I didn't get the $1,000 child tax credit either because my wife and I made over a certain amount for the year.
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      • ExtremeGamer
        Extra Life 11/3/18
        • Jul 2002
        • 35299

        #18
        Re: Stimulus checks (2008) and filing your taxes.

        Originally posted by Heelfan71
        so the $1299 stimulus check I got was like a interest free loan that I have to pay back? I didn't get the $1,000 child tax credit either because my wife and I made over a certain amount for the year.
        No.

        Look at it this way. Your return is that you owe $1600. Now, you put in that you DIDN'T get the check, so it drops it to $400. You put that you DID get the check, then you pay $1600. Because if you didn't get the stimulus check, you would get it this return, meaning $1200 back to you, which comes off what you owe. If you were at the break even point, you would get a check for $1200.

        Get it?

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        • Heelfan71
          Hall Of Fame
          • Jul 2002
          • 19940

          #19
          Re: Stimulus checks (2008) and filing your taxes.

          Originally posted by ExtremeGamer
          No.

          Look at it this way. Your return is that you owe $1600. Now, you put in that you DIDN'T get the check, so it drops it to $400. You put that you DID get the check, then you pay $1600. Because if you didn't get the stimulus check, you would get it this return, meaning $1200 back to you, which comes off what you owe. If you were at the break even point, you would get a check for $1200.

          Get it?

          ahh, yeah that makes sense. If there were no stimulus check at all I would still owe $1600
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          • ExtremeGamer
            Extra Life 11/3/18
            • Jul 2002
            • 35299

            #20
            Re: Stimulus checks (2008) and filing your taxes.

            Originally posted by Heelfan71
            ahh, yeah that makes sense. If there were no stimulus check at all I would still owe $1600
            Bingo!

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            • Heelfan71
              Hall Of Fame
              • Jul 2002
              • 19940

              #21
              Re: Stimulus checks (2008) and filing your taxes.

              guess I was pissed at George Bush for no reason.
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              • Trevytrev11
                MVP
                • Nov 2006
                • 3259

                #22
                Re: Stimulus checks (2008) and filing your taxes.

                Originally posted by Heelfan71
                guess I was pissed at George Bush for no reason.
                Just out of curiousity, what program are you using?

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                • ExtremeGamer
                  Extra Life 11/3/18
                  • Jul 2002
                  • 35299

                  #23
                  Re: Stimulus checks (2008) and filing your taxes.

                  Originally posted by Trevytrev11
                  Just out of curiousity, what program are you using?
                  I used TaxAct. I've used them for a few years now, costs me $10 and they do it all. Love the site.

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                  • Heelfan71
                    Hall Of Fame
                    • Jul 2002
                    • 19940

                    #24
                    Re: Stimulus checks (2008) and filing your taxes.

                    Originally posted by Trevytrev11
                    Just out of curiousity, what program are you using?
                    Turbo Tax. That is what I normally use. I had some stuff I missed and got what I owe down to $400. Getting back $1400 from state though.
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                    • Phobia
                      Hall Of Fame
                      • Jan 2008
                      • 11623

                      #25
                      Re: Stimulus checks (2008) and filing your taxes.

                      Originally posted by Heelfan71
                      Turbo Tax. That is what I normally use. I had some stuff I missed and got what I owe down to $400. Getting back $1400 from state though.
                      Gonna break at a nice even number - $1000.

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