I am preparing the 2020 Tax Return for a 65 year old single person with no dependents. She received her first stimulus check back in April of 2020 ($1,089) based on an AGI of $77,222 on her 2018 Tax Return. That was the correct amount based on her AGI. She has not received her second stimulus check yet. It is my understanding that the second stimulus payment is based on 2019 AGI and in her case that was $80,298. I ran the numbers through an online Stimulus Payment Calculator and the amount that is calculated is $335. I entered $1,089 and $0 for the amounts received on the Turbo Tax Recovery Rebate Worksheet and it is calculating that there is no Rebate Credit owed. It is calculating the Rebate Credit based on the 2020 Income numbers that I entered.
How do I fix this problem?
I hope you are not a tax preparer using this program. You should be using the professional version if you are. The stimulus payment is based on the 2020 return information since it was an advanced credit for that return. Total stimulus payment is reconciled on the 2020 return.