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New Member
posted Jan 12, 2024 7:00:33 PM

I read that the earned income tax credit is supposed to be 600 why am i only getting 449

i should i have a much higher federal refund is this an error in the filing system

0 6 1874
6 Replies
Level 15
Jan 12, 2024 7:05:04 PM

Earned Income Credit—-the rules are back to the “old” rules—

Those under 25 and over 65 without children are not eligible as they were uniquely in 2021.   And you cannot use your income from any earlier tax year to get the EIC for a 2022 return.  There is no “lookback” for 2023.  EIC for 2023 will be based on the income you earned by working in 2023.

 

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-eic-or-eitc

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

 

 

Look at your 2023 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

New Member
Jan 13, 2024 1:13:33 AM

That doesn't make sense it says the credit for this year is 600 and I know I qualify for it so there's no reason for me to be getting less than 600 I have been working this year and I know I made low enough to qualify

New Member
Jan 13, 2024 1:18:45 AM

Also the earned income tax credit is supposed to be a flat amount meaning no matter what if you qualify it's supposed to be the same and I am eligible so I should have 600$

 

Level 15
Jan 13, 2024 4:42:01 AM

@rorydc101 The federal earned income credit amount is not a flat amount.  That credit is calculated on a bell curve, and is based on how much you earned by working, and by whether you have dependent children, and if so, by how many children -- up to three-- that you have.

 

Use the link already provided to you to see how much EIC you should be getting for the amount of income you earned in 2023.

Expert Alumni
Jan 15, 2024 8:51:04 AM
Level 15
Jan 15, 2024 9:58:52 AM

it varies based on earned income and the number of dependents. you can use this IRS tax tool to check Turbotax calculation

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant