Your AGI may be too much to qualify. If you received a significant amount of unemployment, even using your 2019 earned income won't help. You can use your 2019 earned income, but you still have to use your 2020 AGI. Please read this TurboTax blog for more information.
To use the lookback feature in TurboTax Online, go to the Earned Income Tax Credit section.
- In the Search box on the top right of your screen, enter EIC or eic and hit enter; click on Jump to eic
- Follow the interview until you arrive at a page titled Do you want to use last year's earned income? make a note of the amount of your credit using the 2020 earned income...
- Click on Yes and enter your 2019 earned income and click Continue
TurboTax will show your new Earned Income tax credit using your 2019 earned income. If the new credit is higher, click Continue to accept it. If the new credit is lower, click Back to go back to the previous screen and click the radio button No then click Continue.
Generally, earned income includes wages (including non-taxable combat pay), tips, and other payments received for services you personally performed.
This usually includes the total of the amounts reported on:
- Form 1040, line 1 (Wages, salaries, and tips)
- Schedule C, line 3 of Schedule 1 (net business income)
- Schedule F, line 6 of Schedule 1 (net farm income) @mmmkay
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