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TurboTax is determining my stimulus eligibility based on my 2020 AGI. But I haven't filed my 2020 return. Shouldn't it still be based on my 2019 AGI?

My 2019 AGI was below $150,000. My 2020 AGI is above $150,000. I did not receive the second stimulus payment and will need to claim it as a rebate.
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2 Replies
MinhT1
Expert Alumni

TurboTax is determining my stimulus eligibility based on my 2020 AGI. But I haven't filed my 2020 return. Shouldn't it still be based on my 2019 AGI?

The amount of stimulus claimed as the Recovery Rebate credit is based on your 2020 income.

 

The IRA says in this document:

 

Your Recovery Rebate Credit amount will be phased out if your adjusted gross income for 2020 exceeds $150,000 if you are married filing a joint return or filing as a qualifying widow or widower, $112,500 if you are using the head of household filing status, or $75,000 if you are using any other filing status.

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TurboTax is determining my stimulus eligibility based on my 2020 AGI. But I haven't filed my 2020 return. Shouldn't it still be based on my 2019 AGI?

you may get a fractional amount of the 600 depending on how high your income was.

you have to wait. TurboTax is not handling the payment #2 at this time. 

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