Third Economic Impact Payment

Forum|Forum|5 years ago
April 30, 2021
3 replies
25 views

I need to use 2020 AGI for the third economic impact payment since my RMD was waived for that year. 2019 and 2021 AGI will be over the threshold. I have two limited partnerships for which I will not receive a 2020 K-1 until early September 2021, past the Additional Payment Determination Date (APDD), but I have estimates for those K-1s. Should I file before the APDD (8/15/21) and then file a 1040X after the APDD when the official K-1s are received? If the 1040X puts my 2020 income over the threshold, will any of the stimulus payment be clawed back? I assume it would be; otherwise, anyone could file now and then amend post-APDD. Thanks.

Not A Product Question

ThomasM125

Level 15

You would have to pay back any excess stimulus payments you received when you file your amended return if you were not entitled to some or all of it. It may be best to file an extension, then wait until you have all of your K-1's before you file your tax return.

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