Our first stimulus payment was based on our 2018 tax information. In 2018, our son was 16 years old and our AGI was above $150,000. So, we received an amount less than the full $2900, and some portion of that was due to the $500 per dependent. When calculating the Recovery Rebate Credit, it appears that TurboTax is using the information entirely from 2020, both our AGI and our son's age. Since our 2020 AGI dropped below $150,000 and our son was 17 turning 18 during 2020, we appear to be eligible for only $2400 for the first stimulus payment. I'd like to be sure that this sounds correct. Even though the money we already received was calculated with a dependent as part of the formula, the new calculation will not. In essence, is there no way to get the dependent portion in our case, or are we truly not eligible for that? Thanks.
