Recovery Rebate credit within TurboTax
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Recovery Rebate credit within TurboTax

We received our first and second stimulus payments. Within TurboTax, I entered the amounts when prompted. It then shows that we are due a credit from the IRS because we didn’t get the full stimulus payment amount that we should’ve. Except we did. TurboTax is using our AGI from this year. It should be using our AGI from 2019, correct? Not sure how to resolve this. Is it an error in the Turbo Tax programming? 

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Level 15

Recovery Rebate credit within TurboTax

The stimulus payments are an advance tax credit from the 2020 federal tax return.  The Recovery Rebate Credit uses the 2020 AGI as required by the IRS.

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