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?
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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?
Yes, the credit is based on your tax status applicable to 2020, so if you qualify based on the information on your 2020 tax return, you will be eligible for the first, second and third round of stimulus checks.
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