I've been in US on F1 visa since August of 2015. This is the first tax-filing year that I'm eligible for substantial presence test, which says I should file the resident tax form 1040. However I don't know which of the stimulus checks ($1200,$600 and $1400) I'm qualified for. In particular, turbo tax asks me which of the past stimulus checks ($1200, $600) I have received. I have received neither, but I'm not sure if it's because I was not qualified or because I had not filed any 1040 form before.
Which option should I choose in the turbo tax regarding the stimulus question?
If you have a valid Social Security Number then you can be eligible for the Recovery Rebate Credit on your 2020 tax return and the third stimulus payment.
Please enter $0 when TurboTax asks about the amount received:
Your credit amount will be reduced if your 2020 adjusted gross income (AGI) is more than:
Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above. (IRS FAQ Recovery Rebate Credit )
The third round of Economic Impact Payments will be based on the taxpayer's latest processed tax return from either 2020 or 2019. If the IRS has received and processed a taxpayer's 2020 return, the agency will instead make the calculation based on that return.
Please see How will the third stimulus impact me? for additional information.
Thank you for the answer . Just to clarify, I wasn't a resident (for tax purpose) when the first two stimulus checks were sent out (I was exempt from using substantial presence test back then), but now I am. Do I qualify for the recovery rebate credit retroactively?