I'm at the point in my return where TT is asking about the Covid Stimulus payments. It appears to be telling me that we (married filing jointly) should have received the full payments of $2,400 and $1,200, even though we were fortunate enough to have AGI of $157K in 2020. Our income was higher (AGI around $170K) in 2019 - we got checks, but not the full amount. Even with the lower AGI in 2020, I didn't think we'd be eligible for the full amount because it's still above $150K. What am I missing?
Update: The actual calculation was correct. What was misleading was the text on the screen where it asked to double-check the amount we received. That text said that based on our AGI, we were eligible for the full amount, which is incorrect. However, when I entered the actual amounts of our payments, and the credit was calculated on the next screen, the credit appears to be correctly based on what we should have received instead of the full amount.
Update: The actual calculation was correct. What was misleading was the text on the screen where it asked to double-check the amount we received. That text said that based on our AGI, we were eligible for the full amount, which is incorrect. However, when I entered the actual amounts of our payments, and the credit was calculated on the next screen, the credit appears to be correctly based on what we should have received instead of the full amount.