Question

Why is my 2020 AGI being used to calculate our second stimulus instead of 2019 AGI? Married filing jointly we made less than 150k in 2019 and over 150k in 2020

Forum|Forum|5 years ago
February 4, 2021
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TurboTax Deluxe Online

Employee

The stimulus checks that went out last year were an advance on a credit you can get on your 2020 return. If they based it on a lower income for 2019 you do not have to pay it back. But if you did not receive it yet it will be based on your 2020 income. That is how Congress wrote the law. Depending on how much your 2020 income was, you might receive a lower "phased out" amount or nothing.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**