1st Covid Relief $

[Elsie]

I never got my check for the first Covid relief $, based on calculations it should have been $2320 BUT in doing my 2020 taxes in Turbo tax deluxe is is pulling my 2020 AGI not my 2019 AGI which is what the calculations were based on to send out checks and I should be seeing a bigger credit on my 2020, no?

I know Covid is 2020 but the first round of stimulus $ was based on 2019 returns had I gotten the check I would have received more than the credit i see on my worksheet now

[xmasbaby0]

The EIP was an advance credit based on your 2020 tax return.   If you did not receive last year, they do not go back to your 2019 income ----it is based on your 2020 income.   If your 2020 income exceeds the threshold for a full payment then it is phased out.

Q A1. Am I eligible? (updated October 26, 2020)

A1. Generally, if you are a U.S. citizen or U.S. resident alien, you will receive an Economic Impact Payment of $1,200  ($2,400  for a joint return) if you (and your spouse if filing a joint return)  are not a dependent of another taxpayer and have a Social Security number valid for employment and 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.

You are not eligible for a payment if any of the following apply to you:

• You may be claimed as a dependent on another taxpayer’s return (for example, a child or student who may be claimed on a parent’s return or a dependent parent who may be claimed on an adult child’s return).
• You do not have a Social Security number that is valid for employment.
• You are a nonresident alien.
  The following are also not eligible: a deceased individual or an estate or trust.