I have a cleint, MFJ with three depednedts under the age of 17. They did not receive the EIP1 or EIP 2 in 2020, as they made too much money in 2018 and 2019. But in 2020, they made a shade over $150,000. It is my understanding that they should be eligible for the Recovery Rebate Credit. I don't seem to be able to get the credit to generate proplery. Anyone run into this? Thank you.
Yes, entered -1 in all areas. The issue is that it is generating a credit for both stimulius checks which I believ is overtated. I believe that the computation should be based on the second payment (RRC) and not the EIP first payment. Laceret is calculating a credit of $6,874 when I believe it should be just $2,987.
Here's your Help article:
Oh, found another article:
"Level Up" is a gaming function, not a real life function.