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Deductions & credits
Bobby - I will add to the crowd.... the calculations are based on the 2020 tax return based on your income, filing status and dependents under the age of 17 LESS whatever you received for the first two stimulus payments, but not less than zero. that results ends up on Line 30
what was on the 2018 and 2019 tax returns doesn't matter as that was just used as an estimate to get money to everyone.
Similarly, while the 3rd stimulus is based on the 2020 tax return (or 2019), what will matter is the 2021 tax return for income, filing status and dependents (age won't matter) LESS what you received for the 3rd stimulus, but not less than zero. that results ends up on Line 30
‎April 12, 2021
3:31 PM