My taxpayer's AGI exceed the max for receiving the rebate credit for 2019 and 2020

Forum|Forum|5 years ago
February 1, 2021
1 reply
10 views

ProConnect's input section does not allow me to enter sufficient information to report the Rebate Credit that she is entitled to.

ProConnect Tax

This topic has been closed for replies.

itonewbie

Level 15

What exactly would you like to enter? Recovery Rebate Credit is computed based on 2020 AGI, not that of 2019, which may have been used to determine the amount(s) of EIP's payable.

---------------------------------------------------------------------------------Still an AllStar

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paultakenakaAuthor

Level 3

My understanting is that if your AGI does not exceed $75,000 for 2018, 2019, or 2020, you are entitled to a rebate credit of $1,200 (paid last year) and $600 (paid this year). I'm saying that my taxpayer is entitled to a rebate credit of $1,800 because her 2018 AGI did not exceed $75,000. I know that many taxpayers did not receive the rebate credit if their AGI exceeded the max in any of the years. Be that as it may, they are entitled to receive the credit if their AGI qualifies in any one of the 3 years. As far as I can see, ProConnect's input fields do not permit entering this information.

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TaxGuyBill

Level 15

No, that is not correct. The credit/rebate is based on 2020 AGI only.

The advanced payments (stimulus checks, or EIP) could have been based on their 2018 or 2019 AGI, but that was just an estimated payment for the 2020 credit, which is only based on the 2020 AGI.

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