KathrynG3
Expert Alumni

Deductions & credits

The unemployment compensation exclusion does reduce adjusted gross income (AGI). The stimulus payments would be reduced but not eliminated for married filing jointly filers with adjusted gross income more than $150,000.

 

However, the Recovery Rebate Credit is only for collecting eligible amounts that have not been received.

 

For more information, see:  

First Stimulus Payment Calculation

Second Stimulus Payment Calculation