Stimulis checks

[977014ed]

Stimulis checks were reduced because I reported income over $75000, when I reported these numbers in turbo tax, my return was increased by the decreased amount. Total stimulis checks reduced by $315, return was increased $315  ???

[KrisD15]

Maybe you owe and now you owe more. 

[977014ed]

refund was increased

[DMarkM1 · Accepted solution]

The amount of the Recovery Rebate Credit on your 2020 tax return is based on the Adjusted Gross Income (AGI) on your 2020 tax return.  If your 2020 AGI is less than $75,000 you will be eligible for the full amount. 

Therefore when you enter your reduced stimulus payment amounts received that were based on 2019 AGI, the difference will be refunded to you on your tax return.

Here is a link with more information on the Recovery Rebate Credit.