Stimulus Payment 2008 Return

[peanut]

Does anyone know the answer to this question? If you don't receive a stimulus payment this year you can claim it on the 2008 return. Question? If you could not get the stimulus based on 2007 due to income (over the limit) can you use the 2008 income (if lower than maximum) and claim the stimulus on the 2008 return?
Thanks

[Gene V]

Does anyone know the answer to this question? If you don't receive a stimulus payment this year you can claim it on the 2008 return. Question? If you could not get the stimulus based on 2007 due to income (over the limit) can you use the 2008 income (if lower than maximum) and claim the stimulus on the 2008 return?
Thanks

By using the draft worksheet for line 70, I would say NO.

http://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf

page 18 and 19.

[peanut]

2008 Stimulus

Thanks for the reply. I didn't realize there was a draft of the calculation.. But when I looked at line 24 don't they mean the 2008 AGI & even though a client did not qualify for 2007 this T/P may qualify in 2008. This could affect a number of clients with large capital gains (or dividends) for 2007 but losses 2008 due to the market.
Thanks Again

[susieq]

2008 Return

Go to irs.gov then tax professionals tab - will bring up a section on the Stimulus Rebate. If I am interpreting it correctly - the rebate can be received based on 2008 income if you did not qualify with the 2007 income.

[Kram BergGold]

Yes

The stimulus payment is 2008 law with the provision that if you qualified in 2007 you can pre claim it. So someone who did not qualify in 2007 or even filed to late to get it, figures the payment on the 2008 return using 2008 facts.