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Deductions & credits
We're having a problem also but with a different twist on the credit calculation. We got the first stimulus payment before we filed our 2019 return and therefore it was based on our 2018 AGI The second stimulus, of course, was based on my 2019 AGI. For both tax years we were over 150K threshold but only in 2018 was the AGI low enough to require a proration of the stimulus amount. Apparently, TT is using 2018 AGI to calculate that a prorated amount should have been paid for the second stimulus. How do we get rid of the erroneous credit that TT is showing on our 2020 return?
March 13, 2021
3:05 PM