Attention all folks that may have not received stimulus checks/deposits/cards in any prior rounds, but think they may be close or due given their 2020 earnings!
Sneaky Line 30 Of Form 1040
A new line has been added to our 1040’s – this line will act as an increase to your payments to Uncle Sam if you qualify, thereby effectively increasing your refund, making the stimulus tax free to you and flowing through your tax return…
Here is a copy of the 2020 Form 1040
Now over on the second page (see below) if you have funds in line 30, That’s your stimulus !
If there, it will again be added to your payments, INCREASING your payments and making your refund bigger while at the same time delivering your stimulus…
Take a look if you are in doubt on your return – we are finding many Surprised Happy Folks!
Have a Great “Found My Stimulus” Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.