The first two checks are based on 2020 income. Even though the IRS used 2018 or 2019 returns to get those first checks out in a hurry--when you are using the recovery rebate credit on a 2020 return---the 2020 income is the controlling factor. The IRS will not go backwards now and use 2018 or 2019 to give someone the 1st or 2ns check. And there is no place on a 2020 return to enter anything about the 3rd stimulus check, which is a separate check.
Per the IRS the criteria for the recovery rebate credit on a 2020 return:
A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200 ($2,400 for a joint return) if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a Social Security number valid for employment and your adjusted gross income (AGI) does not exceed:
- $150,000 if married and filing a joint return
- $112,500 if filing as head of household or
- $75,000 for eligible individuals using any other filing status
Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
You are not eligible for a payment if any of the following apply to you:
- You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
- You do not have a Social Security number that is valid for employment.
- You are a nonresident alien.
The following are also not eligible: a deceased individual or an estate or trust.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
