@RPK1 wrote:
The problem here is: What AGI do you use in calculating the eligibility. I filed a return for 2019, and I believe the correct AGI to use is for that year. Not 2020! After all, when that stimulus was paid out to people, in mid 2020, no one knew what his AGI for 2020 would be! Right? so, the TT program needs to refer to 2019 and not use the figure for 2020. In my case, there is a big difference, as 2020 for me had some unusual income.
Please acknowledge the issue here as being which year's AGI
Thanks.
RPK1
The Recovery Rebate Credit is based on your 2020 federal tax return, filing status and 2020 AGI.
IRS website for the Recovery Rebate Credit - https://www.irs.gov/newsroom/recovery-rebate-credit
Economic Impact Payments were based on your 2018 or 2019 tax year information. The Recovery Rebate Credit is similar except that the eligibility and the amount are based on 2020 information you include on your 2020 tax return.
