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Level 2
March 3, 2021
Solved

I do not agree with Turbo tax calculation of my Recovery Rebate Credit. So far I have been unable to find a Recovery Rebate Credit worksheet. Does one exist?

  • March 3, 2021
  • 2 replies
  • 23 views
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Best answer by 1xtracredit1

I answered my own question.  You loose 5% of the EIP for the AGI amount over $150k (married filing jointly) for EACH  payment.  I was combining both stimulus payments and then taking off the 5% adjustment; that's not how it works.  Oh well.

2 replies

1xtracredit1AuthorAnswer
Level 2
March 3, 2021

I answered my own question.  You loose 5% of the EIP for the AGI amount over $150k (married filing jointly) for EACH  payment.  I was combining both stimulus payments and then taking off the 5% adjustment; that's not how it works.  Oh well.

Level 15
March 3, 2021

The IRS does provide a recovery rebate credit worksheet in the instructions to form 1040, on the line 30 instructions as follows:

 

https://www.irs.gov/instructions/i1040gi#idm140228274609312

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