Stimulus money question

amother

Wed, Mar 17 2021, 3:55 pm

I should do a poll but too tired.
Are you giving your dependent kids their money?
And if so how old are they?
I have a friend whose kids are 18 and older who said she is not giving her kids their check. She will do what she sees fit to do with it.

I’m just curious what everyone is doing.

HonesttoGod

Wed, Mar 17 2021, 3:58 pm

Well if she pays their rent (assuming they live at home still) and for their food and utilities then technically the money is for her. Not for them.

If my kids were older and in that position I’d probably not give it to them either but if they paid me rent or didn’t live at home I would give it to them.

That said we put all the money into savings so would be used for my kids weddings etc anyway.

amother

Cyan

Wed, Mar 17 2021, 4:00 pm

If their her dependent then they are relying on her financially.

If they were financially independent, they wouldn't be her dependent and get it directly

amother

Puce

Wed, Mar 17 2021, 4:07 pm

I have two older kids in yeshiva who did not get any stimulus funds previously and we were so excited to get it this time around. Using it to pay their tuition.

Chayalle

Wed, Mar 17 2021, 4:07 pm

amother [ OP ] wrote:

The stimulus check was only for dependents under age 17. I did not get a stimulus check for my 19 year old.

She actually just started working in 2020, so she's filing her own taxes now for the first time, and she's getting the stimulus as part of her tax rebate. So it's going directly to her.

But anyone over 17 who didn't file on their own doesn't get it.

So your friend doesn't get for her kids over 18. And if they file and get it it's theirs, and IMVHO she has no right to it.

amother

Indigo

Wed, Mar 17 2021, 4:10 pm

All dependents are eligible for a third check, regardless of age

For the first and second stimulus checks, qualified dependents were defined as anyone age 16 or younger (here is how the first two checks compare with the third). Each dependent counted toward the family total, with no cap on the number of child dependents claimed. That rate was $500 for the first check, approved last March, and $600 for the second, which was approved and sent in December.

The new bill that President Joe Biden signed into law on March 11 earmarks $1,400 per dependent of any age, to be calculated into the checks of their parents or guardians. For the first time, 17-year-olds and adult dependents (anyone 18 or older) are also eligible for a payment as part of the new bill. This group includes around 13.5 million college students, older adults and children of all ages with certain disabilities.

amother

Puce

Wed, Mar 17 2021, 4:12 pm

Chayalle wrote:

I received funds today for all family members, including my 22 and 20 year olds. They are listed as dependents on my tax return as they are both students without any of their own income and we support them financially.

Chayalle

Wed, Mar 17 2021, 4:14 pm

OK, I see this is about the 3rd stimulus check.
I think anything the IRS sends to me is mine.
In another vein, my DD attended a seminary last year that is accredited as a college (she got college credit). I paid her tuition there. At the end of the year, there was a check they sent out to students, that was money from some sort of funding to help college students, from the government. It was made out to my DD. I didn't take that money, even though I had paid her seminary expenses.
I think the money goes to whomever it was sent to from the IRS, or whatever other source.

Chayalle

Wed, Mar 17 2021, 4:15 pm

amother [ Puce ] wrote:

Then it's yours.

My 22 year old works and files her own taxes, so her stimulus checks were/are hers.

amother

Puce

Wed, Mar 17 2021, 4:20 pm

Chayalle wrote:

I didn't take that money, even though I had paid her seminary expenses.

My son's yeshiva is accredited and received stimulus funds during the first round, which were then distributed to the students. The check was made out to the student, but was mailed with a letter from the Rosh Yeshiva stating that if they intend to keep it for themselves and not give to their parents, they should call the yeshiva office to make arrangements for future tuition payments as that would mean they are taking on the responsibility for their own expenses going forward. Very Happy

amother

Rose

Wed, Mar 17 2021, 8:09 pm

OP - I have the same dilemma. I thought we were getting for my 4 children 18 and under - I have 4 children between 19 and 24 (twins Smile

) imagine my surprise that we got for them too! My 24 year old just got married. Trying to figure out what the right thing to do is. Thinking I should probably give it to him.

cnc

Wed, Mar 17 2021, 8:11 pm

amother [ Puce ] wrote:

That’s awesome

amother

Saddlebrown

Wed, Mar 17 2021, 10:46 pm

amother [ Rose ] wrote:

OP - I have the same dilemma. I thought we were getting for my 4 children 18 and under - I have 4 children between 19 and 24 (twins Smile

) imagine my surprise that we got for them too! My 24 year old just got married. Trying to figure out what the right thing to do is. Thinking I should probably give it to him.

The right thing to do is give it to your children or use it solely for them (separate accounts/budgets for every kid even the younger ones) because they are going to be the ones who will be working for years to pay it back so let them benefit from it today.

Chayalle

Thu, Mar 18 2021, 11:12 am

amother [ Puce ] wrote:

In my daughter's situation, she was making her own car payments plus by that time she had started college (after seminary) and is paying for that herself. So we felt pretty comfortable with her having that extra $ for her costs. It wasn't going to anything frivolous.

amother

Chocolate

Thu, Mar 18 2021, 11:17 am

Dependents money goes based on parents income. If parent makes $162,000 child is not getting a check. So it seems like it is meant for parents to support their dependent children.

amother

Mauve

Thu, Mar 18 2021, 12:38 pm

amother [ Rose ] wrote:

OP - I have the same dilemma. I thought we were getting for my 4 children 18 and under - I have 4 children between 19 and 24 (twins Smile

) imagine my surprise that we got for them too! My 24 year old just got married. Trying to figure out what the right thing to do is. Thinking I should probably give it to him.

I would give the married son his portion. The other older kids - if you're supporting them, then I would consider it yours. If your finances allow it, I would put it into savings in their names. But if you need the money, that's what it's there for!