OverBsns
Returning Member

Get your taxes done using TurboTax

Thank  you ColleenD3.  I appreciate you responding.

So I do qualify.  My EITC credit will be different depending on whether I put in the numbers for my K-1 business loss and for the IRA distribution.  I know the program will figure it out for me, but I want to know how it is figured.  I'm trying to do it in the IRS assistant to see the results so I understand the numbers.

 

Do you know, does the IRA distributions count as income?

 

And does the K-1 Loss count?  (It is less than my W-2 income, so I still have a positive AGI).  If I can't include it, then, okay.  But if I can include it, where do I put it on the IRS Assistant, because it won't accept a negative income number even if including it means total income is still positive.

 

Thank you,