Eligibility to receive the third Economic Stimulus payment

[ASMRIN2020]

I'm using Turbotax Premier to do my 2021 tax return.  It tells me that states that we're eligible to receive the third Economic Stimulus payment based on our 2021 AGI...isn't eligibility based on 2020 AGI limits?  If this is an error, how can I correct?

[VolvoGirl · Accepted solution]

No.  It is based on 2021.  They just used your 2020 return to send the checks out fast.

If you didn't get the full 3rd Stimulus payment in 2021 based on your 2020 income or qualify for more, you will get it on your 2021 return line 30 Recovery Rebate Credit if you qualify based on your 2021 income.  See IRS question 2 here,

2021 Recovery Rebate Credit — Topic C: Eligibility for claiming a Recovery Rebate Credit on a 2021 t...