MarilynG1
Expert Alumni

Get your taxes done using TurboTax

Are you referring to what income is included when calculating eligibility for the Earned Income Credit?  If so, the credit is based on your Adjusted Gross Income, with lower income receiving a larger credit.  Here's detailed info from the IRS, and Qualifications for Earned Income Credit.

 

As a US citizen or resident, you report your world-wide income, so you would report gains/losses from selling foreign stock, and bank interest.  These amounts will be used in calculating your Adjusted Gross Income.  If you paid foreign tax on the income, you can claim a Foreign Tax Credit.

 

Yes, TurboTax will do the calculations for EIC automatically, as well as the Foreign Tax Credit.  It is best to step through the interviews for these sections and read the questions carefully.

 

@MSAL678 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"