Ok Volvo Girl,
It just occurred to me it might be better if I work this backward.
For 2020. My total Credit eligible for a family of 4 is Economic Recovery $5,300 (2900 1st+ 2400 2nd) assuming no phase out. This is what the IRS gives me on my tax return based on filing status and dependents.
If the phase out for 1st payment is 5% of what is over AGI which is 30,000 (180,000 AGI-$150,000 AGI) Then my phase out amount is $1,500 (30,000 x 5%). Eligible for only $900 after filing return.
If the phase out for 2st payment is (174,000) Then I do not qualify for any should be no be getting an economic recovery payment so $0.
My economic refund credit is a total of $900=(900+0)
Am I correct? I used rounded numbers.
