DaveF1006
Expert Alumni

Deductions & credits

According to the IRS, you are eligible under the following paramenters.

  • $150,000  if married and filing a joint return
  • $112,500 if filing as  head of household or
  • $75,000  for eligible individuals using any other filing status
    Your payment will be reduced by 5% of  the amount by which your AGI exceeds the applicable threshold above.

What most don't realize is that you are still eligible on income over $150K but it is reduced 5% by the amount that the AGI exceeds $150K so it sounds like you may have been eligible for the reduced credit.

 

As far as if future stimulus payments are based on this year's AGI, details have not been released because it hasn't been passed yet. once it passes, there should be more details that should be released.

 

[Edited 02-23-2021|04:29 PM PST]

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