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Level 3
February 10, 2021
Question

Recovery rebate worksheet

  • February 10, 2021
  • 9 replies
  • 37 views

The Recovery rebate credit work sheet for a couple MFJ with  no children is calculatong more than a $2,400 credit.  How can this be correct ?

 

John Hayes 

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9 replies

February 10, 2021

Are you factoring in BOTH credits?  $1200 per adult for the first credit, and $600 per adult for the second credit?  So if they did not receive any advance payments, it would be $3600 of credits.

John H 12Author
Level 3
February 15, 2021

Hi there are no children - just a couple MFJ   they received no stimulas checks  in 2020 as their incone in 2018 and 2019 wasa too high   AGI is $155,000 in 2020   Pro series is calculating a credit of $2472 

Populate the work sheey using AGI of $155,000   what do yiou get ? 

thanks 

John 

John H 12Author
Level 3
February 15, 2021

Hi the credit can never be more than $2,400 for MFJ with  no children.   the worksheet will calcuulate more then $2,200 under many senarios -   can anyone confrim what I am stating or deny it please 

thanks