Yes if you qualify.
You can get to the Earned Credit Interview by entering "eic" (without the quotes) in My Account -> Tools -Search Topics box.
Earned Income Credit (EIC) is paid on a bell curve - starts low for a low income, increases to the maximum as income increases, then phases out as income increases still further until it is gone at the maximum income. You only get the maximum EIC if your income is about midway between no income and the maximum income.
EIC will be found on line 66a on the 1040 form, line 42a on the 1040A, or line 8a on the 1040EZ.
Earned Income and adjusted gross income (AGI) must each be less than:
• $47,955 ($53,505 married filing jointly) with three or more qualifying children
• $44,648 (50,198 married filing jointly) with two qualifying children
• $39,296($44,846 married filing jointly) with one qualifying child
• $14,880 ($20,430 married filing jointly) with no qualifying children
Tax Year 2016 maximum credit for MFJ: (This is the MAXIMUM - see EIC table for actual amount bases on your earned income).
• $6,269 with three or more qualifying children
• $5,572 with two qualifying children
• $3,373 with one qualifying child
• $506 with no qualifying children
Investment income must be $3,400 or less for the year.
EIC Table
https://www.irs.gov/publications/p596/ar02.html#d0e5366
You must be at least 25 if you do not have a qualifying child, and under 65 years of age at the end of 2015.
See IRS Pub 596 for complete information:
http://www.irs.gov/publications/p596/index.html
For the child tax credit of $1,000 per child.
The child must have been under age 17 at the end of 2016.
The amount of child tax credit you can receive is limited by your tax liability.
If your tax liability is zero, then you are not eligible for any child tax credit.
However, if you qualify for the Child Tax Credit but do not receive the full amount, and if your earned income is greater than $3,000, you might be eligible for the Additional Child Tax credit. The amount will vary from $1 if your earned income was $3,004, up to $1,000 if your earned income was $9,666 or more.
Too high of an income will reduce or eliminate the CTC also. For a single taxpayer (or HOH) the phase out starts with a AGI of $75,000 (MFJ $110,000, MFS $55,000).
The actual amounts on your tax return will depend you your filing status and the number of child dependents.
You can look on line 35 on the 1040A for for the Child Tax Credit (line 52 on the 1040).
Additional Child tax credit on line 43 on the 1040A form (line 67 on the 1040)
See IRS Pub 17 for full information:
https://www.irs.gov/publications/p17/ch34.html
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
