- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Earned income credit is defined by the IRS but TT telling me to use Line 7 of the 1040 makes me uncertain what is included in "earned income." I have a single-member S-corp and my accountant has deemed it better to pass through those funds on a K-1. I do not get it as W-2 income. So clearly, I earned it but does the IRS allow it for the EIC when received in this manner.
‎April 1, 2021
8:27 AM