My wife and I filed separately for 2019, and both of our AGIs were above the max income to receive a stimulus check for our filing status. However, I retired and my wife's income dropped at the end of 2019. We are filing jointly for 2020. Our joint AGI for 2020 does meet the guidelines to receive all of the Recovery Rebate Credit. We have no dependents and have not received any stimulus checks.
The RRC worksheet is using our 2020 AGI to justify the credit, but, I thought all of these stimulus checks were based on 2019 AGI. So, am I eligible for the credit?
In fact, the stimulus payments are advanced payments of the Recovery Rebate Credit which is a tax credit against your 2020 income tax. And your eligibility is based on your 2020 income.
If your 2020 income makes you eligible and you did not receive the stimulus payments, you can claim them as the Recovery Rebate credit on your 2020 tax return.
In TurboTax Online, to claim the Recovery Rebate credit please do the following:
In fact, the stimulus payments are advanced payments of the Recovery Rebate Credit which is a tax credit against your 2020 income tax. And your eligibility is based on your 2020 income.
If your 2020 income makes you eligible and you did not receive the stimulus payments, you can claim them as the Recovery Rebate credit on your 2020 tax return.
In TurboTax Online, to claim the Recovery Rebate credit please do the following: