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Level 2
March 1, 2021
Solved

Earned Income Credit

  • March 1, 2021
  • 2 replies
  • 19 views

If my business sustained a net loss, does that preclude me from receiving an Earned Income Credit? 

Best answer by ColeenD3

Yes. If your only income is from your business or your loss lowers your other earned income to the point that you no longer qualify, then you are not eligible for the credit.

2 replies

ColeenD3
ColeenD3Answer
Level 15
March 1, 2021

Yes. If your only income is from your business or your loss lowers your other earned income to the point that you no longer qualify, then you are not eligible for the credit.

CSG1Author
Level 2
March 2, 2021

Thanks for the info! 👍