Yes it is your combined income that determines the EIP payments for a joint return. They use your Adjusted Gross Income (found on line 11 of your 2020 Form 1040)
For the first two EIP payments:
A1. ..........your adjusted gross income (AGI) does not exceed:
- $150,000 if married and filing a joint return
- $112,500 if filing as head of household or
- $75,000 for eligible individuals using any other filing status
Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
For the 3rd EIP payment:
Eligible individuals don’t need a minimum income for the third payment. However, for higher income individuals, the payment amount is reduced when their adjusted gross income exceeds the following thresholds:
- $150,000 for taxpayers filing a joint return or filing a return as a qualifying widow or widower
- $112,500 for taxpayers filing as head of household
- $75,000 for eligible individuals using any other filing status
The third payment is reduced if their AGI is above these thresholds. No payment is made when AGI is at least the following amount:
- $160,000 for taxpayers filing a joint return or filing a return as a qualifying widow or widower
- $120,000 for taxpayers filing as head of household
- $80,000 for eligible individuals using any other filing status
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
