topic Stimulis checks in Get your taxes done using TurboTax

Stimulis checks

977014ed — Wed, 10 Feb 2021 02:44:57 GMT

Stimulis checks were reduced because I reported income over $75000, when I reported these numbers in turbo tax, my return was increased by the decreased amount. Total stimulis checks reduced by $315, return was increased $315 ???

Re: Stimulis checks

KrisD15 — Wed, 10 Feb 2021 03:05:22 GMT

Maybe you owe and now you owe more.

Re: Stimulis checks

977014ed — Wed, 10 Feb 2021 03:15:48 GMT

refund was increased

Re: Stimulis checks

DMarkM1 — Wed, 10 Feb 2021 16:38:36 GMT

The amount of the Recovery Rebate Credit on your 2020 tax return is based on the Adjusted Gross Income (AGI) on your 2020 tax return. If your 2020 AGI is less than $75,000 you will be eligible for the full amount.

Therefore when you enter your reduced stimulus payment amounts received that were based on 2019 AGI, the difference will be refunded to you on your tax return.

Here is a link with more information on the Recovery Rebate Credit.