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Deductions & credits
The Earned Income Tax Credit is figured on a bell shape curve. When you have $0 income, you have $0 credit. As your income goes up, the credit goes up until you reach the peak of the bell then the credit starts going back down. You were beginning or going upside of the credit. Since you are single with no dependents, the maximum credit is $600. You did not earn enough income to reach the $600 mark. Instead, your income reached the mark that would give you a credit of $182.
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‎April 22, 2024
10:51 AM