How Will You Know If You’re Eligible For a $1400 Stimulus Check?
The next coronavirus relief package could get passed by lawmakers at any moment, that's why it's important to figure out if you're one of those who's eligible for the next stimulus of $1,400 dollars.
The number one thing you need to know is that your eligibility is actually determined by your adjusted gross income, not your total income. The adjustable gross income is what the government uses to figure out how much taxable income you have earned.
Here's the breakdown, according to nbcconnecticut.com. For a single individual in order to receive your $1,400 stimulus check, your adjustable gross income, or ADI can be up to but no more than $75,000. If you're a married couple with an ADI of up to $150,000, then you'll receive $2,800.
If you want to see if you're eligible for a stimulus check, your AGI can be found on your 2020 1040 tax form on line 11. If you have your tax return from last year, 2019, you'll find the AGI on line 8b.
Remember the calculations are based on your most recent tax return, so if you already filed your 2020 return, the AGI on that form will determine if you're entitled for the stimulus check. If you haven't filed yet, then the AGI from your 2019 return will determine your eligibility.
There's also a new twist added to this most recent package. Eligible candidates will also receive an additional $1,400 for each dependent. The last two packages limited dependents to children under 17, however the current package is expected to include all dependents like adult dependents, college students, and disabled adults. If you qualify and have a family of four, you could wind up getting a check for up to $5,600.