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Get your taxes done using TurboTax
so here is how it is calculated... It is all based on 2020; 2019 does not matter
1st stimulus: $1200 + 1200+ $500 = $2900; but it is reduced since you income is over $150,000, it's reduced by 5% for the part over $150,000 or $30,000*5% or $1500. so that leaves $1400,
2nd stimulus: $600*3 = $1800 and then again reduced by the same $1400, leaving $400,.
Line 30 should be about $1800,
ps I suspect your income is closer to $186,000 - that math will get you to $1200 on line 30.
you also won't get the third stimulus because anyone whose income exceeds $160,000 gets zero. if your income drops below $160,000 for 2021, you could get some via Line 30 in your 2021 tax return
March 21, 2021
10:02 AM