Stimulus calculation based on different filing status for 2019 and 2020

[avinashm]

As of 15Apr2021, latest update already taken on a windows desktop turbo tax version, Turbo tax is showing me additional refund based on "Stimulus recovery Rebate Credit" which I am not sure is correct?

1. My and my spouse' s first stimulus check came before we filed 2019 returns so it was based on 2018 (married filing separately) returns calculation 

Spouse claiming daughter ($1700) + $124.70 for myself

2. My and my spouse' s second stimulus check was based on 2019 income tax return (married filing jointly)

($1220.05)

3. Now when I am trying to file 2020 return which I am going back to (married filing separately) , turbo tax is showing very different numbers.

I am not interested in getting this additional recovery rebate credit. So if I say "Yes" to "Is this what you received?" turbo tax does not give me additional rebate amount which is what i am comfortable with.

I have couple of questions -

1. Should the stimulus be recalculated based on what I am trying to file in my returns now for 2020?

2. Will it be OK to say "Yes" to this question "Is this what you received?" I am asking this because the filing status is changing so it looks like turbo tax doesn't know the break up of stimulus.

Thank you in advance!

[KrisD15]

EIP 1 and EIP 2 (Economic Impact Payments) AKA Stimulus Payments, although received before 2020 tax returns were due, were always to be based on tax year 2020 and your 2020 tax return. 

Now the payments are being reconciled on your 2020 tax return.

If you did not get the proper amount, anything under is received as a Recovery Rebate Credit, anything over is simply forgotten. 

From what you explain as your situation, you should report what you received for the first round, then half of the second round. 

If your 2020 tax return shows you should receive a credit, than that would be what you are due. 

YES, the stimulus is recalculated base on what you are filing now for 2020.

According to the IRS

 “ If you were not eligible for either or both of the Economic Impact Payments, you may still be eligible for the Recovery Rebate Credit since it’s based on your 2020 tax return information.  The Economic Impact Payments were based on your 2018 or 2019 tax information.”   

IRS LINK