EIP3 recovery rebate credit question. I was wondering if someone could help me understand this calculation. My wife and I have 2 dependents. We have received $4200 in EIP3 from the IRS (we had only 1 child at the time) then later in the year we had our second child. I'm entering my info in Turbotax (sigh i know, i know) and they are telling me I'm eligible for $4536 so our recovery credit would be $336 since my AGI is $151935.

I'm double checking the calculation. Since I'm married filed jointly, my phase out rate is 56%. Phase out rate calc: $5600/($160000 - $150000) = 56% rate. Then the amount of of EIP3 I'm eligible for would be $5600 - ($151935 - $150000) * .56 = $4516. That would mean a recovery credit of $316.

Am I misunderstanding something?