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jadtheo
New Member

I missed the earned income credit by $157. Is there anything that can be done so I can still receive it? I want to make sure I didn't miss anything. Thank you.

 
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ChristinaS
New Member

I missed the earned income credit by $157. Is there anything that can be done so I can still receive it? I want to make sure I didn't miss anything. Thank you.

Not likely- the point of using Turbo Tax is to allow the program to maximize your refund. Go through all the deductions to ensure that everything is accounted for. However, deductions won't make your earned income go down.

Keep this in mind-

If your income was $157 less, your Earned Income Credit would be $1. Unless this is an issue of having too much investment income, you aren't losing out on big money by going over by $157.

The credit at the phase-out point is practically nothing, so your income would need to be much less to get something meaningful from the EIC.

Is your income coming from a W2 or other tax forms? If so, there's not much you can do.

If you are self-employed, ensure that you have taken all of your deductions.

Before you file, look at your return and make sense of it.

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ChristinaS
New Member

I missed the earned income credit by $157. Is there anything that can be done so I can still receive it? I want to make sure I didn't miss anything. Thank you.

Not likely- the point of using Turbo Tax is to allow the program to maximize your refund. Go through all the deductions to ensure that everything is accounted for. However, deductions won't make your earned income go down.

Keep this in mind-

If your income was $157 less, your Earned Income Credit would be $1. Unless this is an issue of having too much investment income, you aren't losing out on big money by going over by $157.

The credit at the phase-out point is practically nothing, so your income would need to be much less to get something meaningful from the EIC.

Is your income coming from a W2 or other tax forms? If so, there's not much you can do.

If you are self-employed, ensure that you have taken all of your deductions.

Before you file, look at your return and make sense of it.

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