Okay, I didn't know my phase out rate is increase 10K. I entered 2900 as you guest on stimulus payment 1. I entered 0 on stimulus payment 2. On line 30 Recovery Rebate Credit I get $927 which seems low to me. I have turbo tax premium version. My understanding is the phaseout is 5 cents for every dollar over or 5 dollars every 100 dollars over 150K for each stimulus. I did not know basis is increased by 10,000 for every child.
If I'm following the regulations correctly and following what you are telling me.
My first EIP should be 3400- [[phone number removed]00-20000)x.05] = 500 phaseout = 2,900
My send EIP should be 2400- [[phone number removed]00-20000?)x.05] = 500 phaseout = 1,900
