Do I qualify for earned income credit

teetee2880 — Sat, 01 Jun 2019 02:02:56 GMT

The EIC is calculated on a bell curve. At the bottom of...

xmasbaby0 — Sat, 01 Jun 2019 02:02:59 GMT

The EIC is calculated on a bell curve. At the bottom of this post there is a table that should help you understand the amount of EIC you are receiving.

The maximum amounts that one can earn and receive the EIC for 2016 are as follows:

Single or Head of Household Married Filing Jointly

with 3 children $47.955 $53.505

with 2 children $44,648 $50,198

with 1 child $39,296 $44,846

with 0 children $14,880 $20,430

Maximum Earned Income Credit (this is calculated on a bell curve based on earnings)

with 3 children $6,269

with 2 children $5572

with 1 child $3373

with 0 children $506

To receive the EIC the income must be EARNED income; unemployment compensation does not count. You cannot have investment income over $3400, and you must be a U.S. citizen or resident alien for the whole tax year. You must have a valid Social Security number. Your filing status cannot be married filing separately. If you are a single filer with no dependents, you must be between the ages of 25 to 65.

There is a table that starts on page 30 of IRS publication 596 regarding EIC and the amount you can receive for your earned income:

topic Do I qualify for earned income credit in Deductions & credits

Do I qualify for earned income credit

The EIC is calculated on a bell curve. At the bottom of...