MinhT1
Employee Tax Expert

Get your taxes done using TurboTax

The lookback rule is part of the Coronavirus tax relief package.

 

The special lookback rule will allow lower income individuals to use their earned income from 2019 to determine their Earned Income Tax Credit and the refundable portion of the Child Tax Credit in 2020, since their lower 2020 income could reduce the amount they are eligible for.

 

Please read this TurboTax blog for more information.

 

To use the lookback feature for the Earned Income Tax credit in TurboTax Online, go to the Earned Income tax credit section.

 

  1. In the Search box on the top right of your screen, enter earned income tax credit and click on Find at the right
  2. In the search result box, click on Jump to earned income tax credit
  1. In this section, follow the interview until you arrive at a page titled Do you want to use last year's earned income? Note down your Earned Income tax credit using your 2020 earned income.
  1. Click on the radio button Yes and enter your 2019 earned income and click Continue
  2. TurboTax will give you your new Earned Income tax credit using your 2019 earned income
  3. If the new credit is higher, click Continue to accept it
  4. If the new credit is lower, click Back to go back to the previous screen and click the radio button No then click Continue.

 

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