Not necessarily. Yes, the maximum Earned Income Credit is for 3 dependents. TurboTax will calculate your maximum allowable credit for your situation.
There is an IRS worksheet (page 30, link below) and a table (page 31 in the link below) that explains the maximums credit based on income and number of dependents. Keep in mind that the credit is reduced as income increases beyond a certain level. It is best to look at the table so you know the full range for the maximum credit.
Also, keep in mind that the non-refundable portion of the Child Tax Credit is impacted by the Earned Income Credit.
For more details, see: What is the Earned Income Credit?
See page 30 of the IRS Earned Income Tax Table
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