Retirement tax questions
You can get to the Earned Income Credit Section by following the steps below:
- Open your return.
- Search for EIC with the magnifying glass tool at the top of the page.
- Follow the on-screen instructions.
To qualify for and claim the Earned Income Credit you must:
- Have earned income; and
- Have been a U.S. citizen or resident alien for the entire tax year; and
- Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly), and any qualifying children on your return; and
- Not have investment income exceeding $10,000; and
- Not be filing a Form 2555 or 2555-EZ; and
- File a return with the Single, Married Filing Jointly, Head of Household, or Qualifying Widower filing status, even if you're not required to file a return.
In addition, both your earned income and Adjusted Gross Income (AGI) may not exceed:
- $21,430 if you're not claiming a qualifying child ($27,380 if filing jointly);
- $42,158 if you're claiming 1 qualifying child ($48,108 if filing jointly);
- $47,915 if you're claiming 2 qualifying children ($53,865 if filing jointly);
- $51,464 if you're claiming 3+ qualifying children ($57,414 if filing jointly).
One more thing—if you're not claiming a qualifying child:
You (and your jointly filing spouse) can't be claimed as a qualifying child or dependent on anyone else's return, and
- You must be at least 18 if you are a qualified former foster youth or a qualified homeless youth, regardless of whether or not you are a specified student
- You must be at least age 19 if you aren't a specified student, qualified former foster youth, or qualified homeless youth
- You must be at least age 24 if you are a specified student, unless you are a qualified former foster youth, or qualified homeless youth
FROM THE IRS PUB 596 : https://www.irs.gov/publications/p596
Qualified former foster youth.
You are a qualified former foster youth if (1) on or after the date you attained age 14, you were in foster care provided under the supervision or administration of an entity administering (or eligible to administer) a plan under part B (related to child welfare agencies) or part E (related to federal payments of monthly payments for eligible children) of title IV of the Social Security Act (without regard to whether federal assistance was provided to you under such part E), and (2) you consent for entities who administer a plan under part B or part E of title IV of the Social Security Act to disclose information related to your status as a qualified former foster youth.
If you qualify as a former foster youth and satisfy all the other requirements for claiming the EIC, check the box on Form 1040 or 1040-SR, line 27a..
Qualified homeless youth.
You are a qualified homeless youth if you certify that you are an unaccompanied child or youth who is homeless or who is at risk of homelessness, and are self-supporting.
To certify that you are a qualified homeless youth and that you satisfy all the other requirements for claiming the EIC, check the box on Form 1040 or 1040-SR, line 27a.
IN THE TT PROGRAM YOU MUST ANSWER CERTAIN QUALIFYING QUESTIONS IN THE MY INFO SECTION AND THEN COMPLETE THE EIC SECTION LATER.
