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New Member
posted Feb 24, 2024 6:12:33 PM

My AGI is $1002 over the threshold to qualify for the Earned Income Tax Credit. Can I reduce my AGI by still making a contribution to my HSA prior to the tax deadline?

0 3 838
3 Replies
Level 15
Feb 24, 2024 7:01:50 PM

Yes. If you qualify for the deduction you could also contribute to an IRA. 

Level 15
Feb 24, 2024 10:33:52 PM

Before you try that, take a close look at the bell curve that the EIC is calculated on.  Bringing your income down a little bit will not get you the "full" amount of EIC.  It might get you a few dollars.  The EIC table starts on page  27 of this IRS publication:

 

https://www.irs.gov/pub/irs-pdf/p596.pdf

Level 15
Feb 24, 2024 10:35:30 PM