topic Being retired this whole year,can I still claim my grandkids for EITC ..my income is social security and two pensions.they live with me fulltime. in Retirement tax questions

Being retired this whole year,can I still claim my grandkids for EITC ..my income is social security and two pensions.they live with me fulltime.

magschillin — Tue, 04 Jun 2019 23:27:25 GMT

EITC is for Earned Income Tax Credit. You need earned in...

VolvoGirl — Tue, 04 Jun 2019 23:27:27 GMT

EITC is for Earned Income Tax Credit. You need earned income from W2 wages or a Net Profit from self employment income on schedule C to qualify for it. SS and pensions and 401K and IRAs don't qualify.

You can still claim them as dependents if they qualify as...

VolvoGirl — Tue, 04 Jun 2019 23:27:28 GMT

You can still claim them as dependents if they qualify as your dependents.

Any part time employment will earn you a generous EITC, w...

Hal_Al — Tue, 04 Jun 2019 23:27:30 GMT

Any part time employment will earn you a generous EITC, with two kids as much as 40% of your wages. That assumes your pension income isn't so high as to wipe out the EITC.
The earned income credit is first calculated (actually looked up in a table) on your earned income then it is calculated on your total income (AGI). You get the lesser of the two calculated EIC numbers. See the 2017 EIC table at:
<a rel="nofollow" target="_blank" href="https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf">https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf</a>