The Recovery Rebate Credit on your 2020 tax return is based only on the information in your 2020 tax return. The AGI on your 2020 tax return is correctly being used for the calculations. If your 2020 AGI is between $150,000 and $200,000, the stimulus amounts for both rounds one and two are using the same proration (2020 AGI). That prorated amount is then reduced by any payments you actually received in rounds one and/or two to arrive at the credit due to you and added to your 2020 tax return.
The prior year AGIs were only used for rounds one and two because those were the returns available; they were actually advances to the Recovery Rebate Credit. The stimulus payments were always meant to be based on 2020 tax returns.
Here is a link with more information on the Recovery Rebate Credit.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
