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Get your taxes done using TurboTax
In TurboTax screens the question "Do you want to use last year's earned income?" will display for both earned income tax credit (EITC) and Child Tax Credit (CTC) sections. On those screens you can choose to enter your 2019 income for the calculation if that is what you prefer to use.
In my scenario there was $15,000 from a W-2 and then $11,000 entered as income from 2019 (also tried $40,000) in both the CTC and EITC.
See the image below in the EITC section of TurboTax Online.
Be very careful to review the refund amounts so that you are using the income year that best works for you.
Based on the following information from the IRS website the adjusted gross income (AGI) is a factor for making the determination about which year's income will be used to calculate the credit. Click here to view the IRS page.
- To claim the Earned Income Tax Credit (EITC), you must have what qualifies as earned income and meet certain adjusted gross income (AGI) and credit limits for the current, previous and upcoming tax years.
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