1099-NEC & EIC

Forum|Forum|3 years ago
April 8, 2023
5 replies
48 views

My income isn't showing up for my 1099-NEC, except as business income, and the program it telling me I don't qualify for the EIC, even though I do. Is this a known issue?

ShirlynW

Level 8

There can be several reasons you do not qualify. Without seeing your return we cannot give a definite answer. If your expenses are equal to or greater that the income entered, you will not have a net profit on which to calculate any credit. Clarify, is your business showing a net profit? What is your age?

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JohnamiAuthor

Level 2

Age 82. I did not claim any additional business expenses at all. My confusion is also tied to the fact that my income isn't showing up in the income section as the 1099NEC. Last year the program put my `099NEC under MISC, but it showed up in income, and under schedule C. I jumped to the conclusion that because the income wasn't showing up in income, of course I wouldn't qualify for the ETC (must have income).