Come to find out...that $1200 stimulus check is just a loan. To be paid back in your 2020 taxes.
Paid back? Or simply counted as income?
Pretty sure it is counted as income.
Still sucks however.
Brad
It is considered a rebate or credit against the taxes you owe in 2020. From my understanding, you won't have to pay it back or owe any additional taxes on it. However, I believe that if you did not qualify based on your income in 2018 or 2019, but would qualify based on your 2020 income, you will get the credit on your 2020 taxes and decrease the amount you owe or get a larger refund.