The Recovery Rebate Credit is calculated based on your 2020 income because the stimulus payments were based on 2019 income (or the last return filed). Due to the Covid-19 pandemic, a lot of taxpayers lost income in the year of 2020 and did not qualify based on their 2019 (or earlier) financial situation. Basing the Recovery Rebate Credit on 2020 income ensures that if their financial situation changed and are now eligible, then they would still get assistance.
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