ErnieS0
Expert Alumni

Deductions & credits

You do not need to upgrade to Premier for stimulus payments.

 

For you return to be correct, enter the actual payment amounts you received last year. If you qualify for a full stimulus based on your 2020 tax information, then you are entitled to the difference. The IRS sent out the payments. They have a record of what they gave you.

 

The stimulus payments were advanced payments for 2020. Your correct stimulus amount is based on your actual 2020 income, not your 2018 or 2019 income.

 

The IRS did not have 2020 information when it sent out payments, so the Service used 2018 and 2019 tax information with the understanding that your payments would be trued up on your 2020 return.

 

In your case, it sounds like the IRS used your 2018 tax return information to send out your payments because it did not have your 2019 info. If your 2020 income put you under the full stimulus thresholds then you are entitled to the difference.

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