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drayray35
New Member

Working parent tax break

what is the name of the tax break that turbo tax said to file with the irs
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2 Replies

Working parent tax break

There is no federal credit called a "working parent tax break."  There are several child-related credits which are based on your income from working --- such as earned income credit, childcare credit, and additional child tax credit.

 

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

https://ttlc.intuit.com/questions/1900643-what-is-the-child-and-dependent-care-credit

 

 

 

https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/additional-child-tax-credit/L6x...

https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-f...

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
SharonD007
Employee Tax Expert

Working parent tax break

If you are referring to the Earned Income Tax Credit (EITC), the eligibility requirements are below:

 

 For 2023, the EITC is based on the income you earned working in 2023, not your AGI.   ‌See the link “What is earned income?” to determine what's included in your earned income.  You indicate that your gross income is $91,561 which exceeds the criteria for earned income if that amount is your earned income.

 

In addition to having earned income, you must meet other criteria to qualify for the EIC:

  • Be a U.S. citizen or resident alien for the entire year
  • Have a valid Social Security number for yourself, your spouse (if Married Filing Jointly), and any children that qualify you on your tax return
  • Not file Form 2555 or 2555-EZ (Foreign Earned Income)
  • Meet certain rules if you are married but are separated from your spouse and filing separate tax returns
  • Have investment income below $11,000
  • Your income must be less than $63,398 (depending on your filing status and number of qualifying children).
  • If you don’t have dependents, be over 25 and under 65.
  • Not qualify as a dependent for another taxpayer.

 For more information, review the TurboTax article What is the Earned Income Credit? Find Out If You Qualify

 

@drayray35

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